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Q3 . A typical firm in long-run equilibrium in an industry with identical firms has a cost function given by C(q) = F +
Posted: Wed Jul 06, 2022 5:55 am
by answerhappygod
- Q3 A Typical Firm In Long Run Equilibrium In An Industry With Identical Firms Has A Cost Function Given By C Q F 1 (62.23 KiB) Viewed 13 times
Q3 . A typical firm in long-run equilibrium in an industry with identical firms has a cost function given by C(q) = F + 2q² where F is a positive constant. The industry has a market demand of Q = 2,400 - 5p a. Suppose F= 800. What is the competitive equilibrium price, quantity and number of firms? b. Suppose F is a mandatory accreditation fee established by the industry association. How does the equilibrium price and number of firms vary with F? How does the profit of each firm vary with F?