This is a two part question. Suppose that all firms in a perfectly competitive market are...
Firms in the short run market equilibrium from question 14 make positive profit. so, eventually new firms will enter the market and sunk fixed cost become avoidable fixed cost and the market enter a new long run market equilibrium.How many firms will exist in this new long run market equilibrium? no units , no rounding Question 14 (1 point) Saved Consider the long-run market equilibrium in Question 13 as a starting point. Now suppose that demand changes to Q=120.0-4P overnight....
Question 12 (1 point) Suppose that all existing firms in a long-run competitive market equilibrium are identical and have the following cost function C(Q) = 100 + Q? with MCIQ)=2Q. Suppose also that market demand is given by P(Q)=A-0.04Q, where A=80.0. What is the equilibrium market quantity? No units, no rounding. Your Answer: Your Answer
Suppose that all existing firms in a long-run competitive market equilibrium are identical and have the following cost function C(Q)= 1002 with MC(Q)=2Q. Suppose also that market demand is given by P(Q)=A-0.04Q, where A-40.0. What is the equilibrium market quantity? No units, no rounding. Your Answer: Your Answer
Question 12 (1 point) Suppose that all existing firms in a long-run competitive market equilibrium are identical and have the following cost function C(Q) = 100+Q2 with MCQ)=20. Suppose also that market demand is given by P(Q)=A-0.040, where A=40.0. What is the equilibrium market quantity? No units, no rounding. VA
Question 11 (1 point) Suppose that all existing firms in a long-run competitive market equilibrium are identical and have the following cost function C(Q) = A + Q2 with fixed cost A=$175.0 and MC(Q)=2Q. What is the market equilibrium price? No units. If necessary, round to 2 decimal places. Your Answer: Your Answer
Question 1 a) b) Suppose that all existing firms in a long-run competitive market equilibrium are identical and have the following cost function C(Q) = A + Q2 with fixed cost A=$150.0 and MC(Q)=2Q. What is the market equilibrium price? No units. If necessary, round to 2 decimal places. Question 6 (1 point) Saved Suppose that in a perfectly competitive market, demand and supply are given by QD = 100 – bP QS = P – 20 where b=1.5. The...
Question 10 (1 point) In a long-run competitive market equilibrium, existing firms produce at the efficient scale of production and make zero profit. True False Question 11 (1 point) Suppose that all existing firms in a long-run competitive market equilibrium are identical and have the following cost function C(Q) = A +Q2 with fixed cost A=$125.0 and MCIQ)=2Q. What is the market equilibrium price? No units. If necessary, round to 2 decimal places. Your Answer: Your Answer
Suppose that all existing firms in a long-run competitive market equilibrium are identical and have the following cost function C() A2 with fixed cost A=$200.0 and MC(Q)=2Q. What is the market equilibrium price? No units. If necessary, round to 2 decimal places.
Suppose the market for canola oil is perfectly competitive. There are 1,000 firms in the market, each of which have a fixed cost of FC=2 and a marginal cost of MC= 1+Q, where q is quantity produced by an individual firm. Let QS denote the total quantity supplied in the market. The market demand is QD= 15,250-250P A) Find the market supply equation, that is write QS as a function of price P B)What is the equilibrium price? What is...
Suppose the market for watermelons is perfectly competitive and that there are 100 identical firms currently in the market. Each firm as a short run total cost curve of STC=2Q^2+150, with $150 of the fixed costs sunk. calculate the shutdown price for a typical firm.