Homework Answers
Request Answer!
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
Add Answer to:
Each firm in a competitive market has a cost function of Cq qq3. There are an...
Each firm in a competitive market has a cost function of C = 10g - 492...
Each firm in a competitive market has a cost function of C = 10g - 492 +93 There are an unlimited number of potential firms in this market. The market demand function is Q = 30 - p. Determine the long-run equilibrium price, quantity per firm, market quantity, and number of firms. The long-run equilibrium price is $ (Enter your response as a whole number) The market quantity is units. (Enter your response as a whole number.) The number of...
Each of the 10 firms in a competitive market has a cost function of C-30+q The...
Each of the 10 firms in a competitive market has a cost function of C-30+q The market demand function is Q-480-P Determine the equilibrium price, quantity per firm, and market quantity The equilibrium price is s (Enter your response as a whole number) The quantity per firm is q units. (Enter your response as a whole number) The market quantity is Q-units (Enter your response as a whole number)
Each firm in a perfectly competitive market has long run average cost represented as AC(q) =...
Each firm in a perfectly competitive market has long run average cost represented as AC(q) = 100q- 10+100/q. Long run marginal cost is MC=200q-10. The market demand is Qd = 2150-5P. Find the long run equilibrium output per firm, q*, the long run equilibrium price, P*, and the number of firms in the industry, n*. P = 190; Q = 1200; q =1 , n = 1200
Suppose there is a monopolistically competitive market with n identical firms, such that each firm produces the same quantity, q. Further, the market is in the monopolistically competitive long-run e...
Suppose there is a monopolistically competitive market with n identical firms, such that each firm produces the same quantity, q. Further, the market is in the monopolistically competitive long-run equilibrium. You are given the following: Inverse market demand: P 10-Q Total market output: Qnxq Marginal revenue: MR 10n+ 1)xq Total cost: C(q)-5+q Marginal cost: MC 2xq In long-run equilibrium, each firm earns zero economic profit. In long-run equilibrium, the number of firms, n, is and each firm produces units) of...
2. A competitive industry has 12 identical firms, each one has a total variable cost function...
2. A competitive industry has 12 identical firms, each one has a total variable cost function TVC(a) 402 and a marginal cost function MC(a) 40+q, the firm's fixed cost.s are entirely non-sunk (that is, must be paid only if q >0) and equal to 50. (a) Calculate the price below which the firm will produce q 0. (b) The market demand is QD(p) 360-2p. What is the short-run equilibrium price and quantity supplied by each firm? Calculate each firm's proft...
5. Each firm in a competitive market has a cost function TC() 102q+ and there are...
5. Each firm in a competitive market has a cost function TC() 102q+ and there are n = 20 firms in the short run. The short-run equilibrium price is p-5. What happens in the long-run equilibrium as compared to the short-run equilibrium (a) Does the equilibrium price increase or decrease? Explain (b) Does the number of firms increase or decrease? Explain (c) Does the output of a single firm increase or decrease? Explain (d) Does the total market output increase...
i) The long run cost function for each firm in a perfectly competitive market is c(q)...
i) The long run cost function for each firm in a perfectly competitive market is c(q) = 2^1.5+16q^0.5, LMC = 1.59^0.5+ 8q^-0.5, market demand curve is Q=1600-2p. Find price (p) of output and the level of output (q) produced by the firm in a long run equilibrium. Find the long run average cost curve for the firm. ii) what happens in the long run if the market demand curve shifts to Q=160-20p?/ -A competitive industry is in long run equilibrium....
Suppose that each firm in a competitive industry has the following costs: Total Cost: TC =...
Suppose that each firm in a competitive industry has the following costs:Total Cost: TC=50+1/2 q2Marginal Cost: MC=qwhere q is an individual firm's quantity produced.The market demand curve for this product is:Demand QD=160-4 Pwhere P is the price and Q is the total quantity of the good.Each firm's fixed cost is $_______ What is each firm's variable cost?1/2 q50+1/2 q1/2 q^{2}qWhich of the following represents the equation for each firm's average total cost?50/q+1/2 q50+1/2 q50/q1/2 qComplete the following table by computing the...
Consider a perfectly competitive market comprised of identical firms each facing the following cost function: C(q)...
Consider a perfectly competitive market comprised of identical firms each facing the following cost function: C(q) = 4 +q? where q is the firm-specific level of production of the representative firm. The market demand function is Q(p) = 400 - 4p where Q(p) is the aggregate demand in the market (expressed as function of price) and p is the price a) Derive the firm-specific supply function of the representative firm as a function of price b) Assume there are N...
А - ВО, 2. A competitive where Q is the market output. Each firm in the industry has the same cost function, c(q) q?. A...
А - ВО, 2. A competitive where Q is the market output. Each firm in the industry has the same cost function, c(q) q?. A industry has a linear market demand: p _ (i) Suppose there are n firms in this industry in the short-run. What is the short-run equilibrium price? Calculate the total consumer surplus at this short-run equilibrium. (ii) Suppose now the government imposes a per-unit tax t > 0, to be paid by the firms. What is...
Each firm in a competitive market has a cost function of C = 10g - 492 +93 There are an unlimited number of potential firms in this market. The market demand function is Q = 30 - p. Determine the long-run equilibrium price, quantity per firm, market quantity, and number of firms. The long-run equilibrium price is $ (Enter your response as a whole number) The market quantity is units. (Enter your response as a whole number.) The number of...
Each of the 10 firms in a competitive market has a cost function of C-30+q The market demand function is Q-480-P Determine the equilibrium price, quantity per firm, and market quantity The equilibrium price is s (Enter your response as a whole number) The quantity per firm is q units. (Enter your response as a whole number) The market quantity is Q-units (Enter your response as a whole number)
Suppose there is a monopolistically competitive market with n identical firms, such that each firm produces the same quantity, q. Further, the market is in the monopolistically competitive long-run equilibrium. You are given the following: Inverse market demand: P 10-Q Total market output: Qnxq Marginal revenue: MR 10n+ 1)xq Total cost: C(q)-5+q Marginal cost: MC 2xq In long-run equilibrium, each firm earns zero economic profit. In long-run equilibrium, the number of firms, n, is and each firm produces units) of...
2. A competitive industry has 12 identical firms, each one has a total variable cost function TVC(a) 402 and a marginal cost function MC(a) 40+q, the firm's fixed cost.s are entirely non-sunk (that is, must be paid only if q >0) and equal to 50. (a) Calculate the price below which the firm will produce q 0. (b) The market demand is QD(p) 360-2p. What is the short-run equilibrium price and quantity supplied by each firm? Calculate each firm's proft...
5. Each firm in a competitive market has a cost function TC() 102q+ and there are n = 20 firms in the short run. The short-run equilibrium price is p-5. What happens in the long-run equilibrium as compared to the short-run equilibrium (a) Does the equilibrium price increase or decrease? Explain (b) Does the number of firms increase or decrease? Explain (c) Does the output of a single firm increase or decrease? Explain (d) Does the total market output increase...
i) The long run cost function for each firm in a perfectly competitive market is c(q) = 2^1.5+16q^0.5, LMC = 1.59^0.5+ 8q^-0.5, market demand curve is Q=1600-2p. Find price (p) of output and the level of output (q) produced by the firm in a long run equilibrium. Find the long run average cost curve for the firm. ii) what happens in the long run if the market demand curve shifts to Q=160-20p?/ -A competitive industry is in long run equilibrium....
Consider a perfectly competitive market comprised of identical firms each facing the following cost function: C(q) = 4 +q? where q is the firm-specific level of production of the representative firm. The market demand function is Q(p) = 400 - 4p where Q(p) is the aggregate demand in the market (expressed as function of price) and p is the price a) Derive the firm-specific supply function of the representative firm as a function of price b) Assume there are N...
А - ВО, 2. A competitive where Q is the market output. Each firm in the industry has the same cost function, c(q) q?. A industry has a linear market demand: p _ (i) Suppose there are n firms in this industry in the short-run. What is the short-run equilibrium price? Calculate the total consumer surplus at this short-run equilibrium. (ii) Suppose now the government imposes a per-unit tax t > 0, to be paid by the firms. What is...
Most questions answered within 3 hours.
-
Given P(Ec ) = 0.43, P(F) = 0.52, and P(EF) = 0.18.
Find P( E |...
asked 42 minutes ago -
Consider two empty containers A and B whose volumes are
10mL and 20mL respectively. 1mL of...
asked 45 minutes ago -
QUESTION 6
Determine the linear momentum of a 2,800 kg houseboat going 3
m/s.
9,100 kg.m/s...
asked 59 minutes ago -
Jor-el throws a ball upward from the top of a 728 foot building
on the planet...
asked 1 hour ago -
Which of the following will most likely to happen if Federal
Reserve Bank decreases the money...
asked 46 minutes ago -
You’ve just joined the investment banking firm of Dewey,
Cheatum, and Howe. They’ve offered you two...
asked 40 minutes ago -
An air conditioner cools 226 m^3/min of humid air at 36 oC and
98% relative humidity...
asked 39 minutes ago -
Vaughn Manufacturing acquires a coal mine at a cost of $1870000.
Intangible development costs total $354000....
asked 48 minutes ago -
Question 5
What effect would a decrease in
temperature have on pressure, assuming that volume
(T)...
asked 1 hour ago -
Draw the Lewis dot structures for the following molecules. None
of the atoms have a formal...
asked 1 hour ago -
What does it mean when an element is radioactive?
a.
It means the element is changing...
asked 1 hour ago -
A company deposits $6,000 in a bank at the end of every year for
10 years....
asked 1 hour ago