Consider an industry with two firms producing similar products. Each firm's total cost (in dollars) is given below. Acme Manufacturing: TC = 100+30 Generic Industries: TC = 500 + 3Q When each firm is producing the same quantity, Acme's average total cost is

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Consider an industry with two firms producing similar products. Each firm's total cost (in dollars) is given below. Acme Manufacturing: TC = 100+30 Generic Industries: TC = 500 + 3Q When each firm is producing the same quantity, Acme's average total cost is
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