Unit: Economics
17 Questions(ii) With an aid of a diagram, explain the long run equilibrium of a firm operating in imperfect competition.
| Level of output | Total variable cost Sh. |
| 0 | 0 |
| 1 | 60,000 |
| 2 | 110,000 |
| 3 | 140,000 |
| 4 | 150,000 |
| 5 | 150,000 |
| 6 | 170,000 |
| 7 | 210,000 |
| 8 | 260,000 |
| Year | Y $ | C $ | I $ | G $ | X $ | M $ |
| 2020 | 80,000 | ? | 10,000 | 40,000 | 100,000 | 120,000 |
| 2021 | 90,000 | 56,000 | 15,000 | 34,000 | 110,000 | ? |
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