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Tries remaining: 2 Tries remainig:2 All firms that produce microphones have identical long run average total...
Suppose there is free entry in the market for microphones. The demand for microphones is given...
Suppose there is free entry in the market for microphones. The demand for microphones is given by: QD= 952 -4P. All firms that produce microphones have identical long run average total cost functions given by: ATC = 2116/q + 8 + q. Calculate the long run number of firms in this market
Suppose there is free entry in the market for microphones. The demand for microphones is given...
Suppose there is free entry in the market for microphones. The demand for microphones is given by: QD= 2779 -7P. All firms that produce microphones have identical long run average total cost functions given by: ATC = 3528/q + 7 + 8q. Calculate the long run number of firms in this market.
Question 6 Tries remaining:2 Calculate the price where the firm shuts down in the short run....
Question 6 Tries remaining:2 Calculate the price where the firm shuts down in the short run. Points out of 6.25(Do not include a $ sign in your response. Round to the nearest two decimal places if necessary.) Suppose a firm has an average total cost function given by: ATC 9610/q +1 +10q. Flag question Answer Check
1. All (identical) firms in a competitive industry have the following long-run total cost curve: C(q)...
1. All (identical) firms in a competitive industry have the following long-run total cost curve: C(q) = q3 – 10q2 + 369 where q is the output of the firm. a. Compute the long run equilibrium price. What does the long-run supply curve look like? b. Suppose the market demand is given by Q=111 - p. Determine the long-run equilibrium number of firms in the industry.
2. (1.5 p) Consider perfectly competitive industry with identical firms. The long run average cots function...
2. (1.5 p) Consider perfectly competitive industry with identical firms. The long run average cots function of a typical firm is given by AC(q)- 24 - 49 + q. Market demand is given by c p)=100-2p. (a) Find the long run supply curve of the typical firm. (b) Find the number of firms in the industry in the long run equilibrium.
Suppose all firms in the market are identical. Each firm has a long run total cost...
Suppose all firms in the market are identical. Each firm has a long run total cost curve LTC = 40Q – Q2 + 0.01Q3. The market demand curve is Q = 20,000 – 100P. Find the long run equilibrium quantity per firm, price, and number of firms in the market.
Suppose that all existing firms in a long-run competitive market equilibrium are identical and have the...
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
For a constant cost industry in which all firms the same cost functions, their long-run average...
For a constant cost industry in which all firms the same cost functions, their long-run average cost is minimized at $10 per unit output and 20 units (i.e. q = 20). Market demand is given by QD=DP=1,500-50P. Find the long-run market supply function Find the long-run equilibrium price (P*), market quantity (Q*), firm output (q*), number of firms (n), and each firm’s profit. The short-run total cost function associated with each firm’s long-run costs is SCq=0.5q2-10q+200. Calculate the short-run average...
A market is in long-run equilibrium and firms in this market have identical cost structures. Suppose...
A market is in long-run equilibrium and firms in this market have identical cost structures. Suppose demand in this market decreases. Which of the following are correct descriptions of what happens to the individual firms and the whole market as the market first leaves and then returns to long-run equilibrium? Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. 3 Market...
1. (25 points) The market for study desks is characterized by perfect competition. Firms and consumers are price takers and in the long run there is free entry and exit of firms in this industry. Al...
1. (25 points) The market for study desks is characterized by perfect competition. Firms and consumers are price takers and in the long run there is free entry and exit of firms in this industry. All firms are identical in terms of their technological capabilities. Thus the cost function as given below for a representative firm can be assumed to function faced by each firm in the industry. The total cost and marginal cost functions t the representative firm are...
Question 6 Tries remaining:2 Calculate the price where the firm shuts down in the short run. Points out of 6.25(Do not include a $ sign in your response. Round to the nearest two decimal places if necessary.) Suppose a firm has an average total cost function given by: ATC 9610/q +1 +10q. Flag question Answer Check
1. All (identical) firms in a competitive industry have the following long-run total cost curve: C(q) = q3 – 10q2 + 369 where q is the output of the firm. a. Compute the long run equilibrium price. What does the long-run supply curve look like? b. Suppose the market demand is given by Q=111 - p. Determine the long-run equilibrium number of firms in the industry.
2. (1.5 p) Consider perfectly competitive industry with identical firms. The long run average cots function of a typical firm is given by AC(q)- 24 - 49 + q. Market demand is given by c p)=100-2p. (a) Find the long run supply curve of the typical firm. (b) Find the number of firms in the industry in the long run equilibrium.
Suppose all firms in the market are identical. Each firm has a long run total cost curve LTC = 40Q – Q2 + 0.01Q3. The market demand curve is Q = 20,000 – 100P. Find the long run equilibrium quantity per firm, price, and number of firms in the market.
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
A market is in long-run equilibrium and firms in this market have identical cost structures. Suppose demand in this market decreases. Which of the following are correct descriptions of what happens to the individual firms and the whole market as the market first leaves and then returns to long-run equilibrium? Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. 3 Market...
1. (25 points) The market for study desks is characterized by perfect competition. Firms and consumers are price takers and in the long run there is free entry and exit of firms in this industry. All firms are identical in terms of their technological capabilities. Thus the cost function as given below for a representative firm can be assumed to function faced by each firm in the industry. The total cost and marginal cost functions t the representative firm are...
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