The production of cable is standard. The following marginal cost function of a typical firm MC(q) is (in dollars and sam
Posted: Mon Apr 18, 2022 9:13 am
The production of cable is standard. The following marginal cost
function of a typical firm MC(q) is (in dollars and same for all
firms). MC(q) = 0.2q where q is the output of an individual firm.
The fixed cost of a typical firm firm is X (in dollars and same for
all firms).
Q1:The market demand curve is given by Q = 96000 − 1000P
Initially, the market is in the long-run equilibrium, and there are
1000 identical firms in the market. The long-run market equilibrium
price is $[ Answer ]. (In decimal numbers, with two decimal places,
please.)
Q2:Continue from the previous question. The long-run market
equilibrium quantity is [ Answer ] units. (In decimal numbers, with
two decimal places, please.)
Q3:Continue from the previous question. The total cost of
production of a representative firm is $[ Answer ]. (In decimal
numbers, with two decimal places, please.)
function of a typical firm MC(q) is (in dollars and same for all
firms). MC(q) = 0.2q where q is the output of an individual firm.
The fixed cost of a typical firm firm is X (in dollars and same for
all firms).
Q1:The market demand curve is given by Q = 96000 − 1000P
Initially, the market is in the long-run equilibrium, and there are
1000 identical firms in the market. The long-run market equilibrium
price is $[ Answer ]. (In decimal numbers, with two decimal places,
please.)
Q2:Continue from the previous question. The long-run market
equilibrium quantity is [ Answer ] units. (In decimal numbers, with
two decimal places, please.)
Q3:Continue from the previous question. The total cost of
production of a representative firm is $[ Answer ]. (In decimal
numbers, with two decimal places, please.)