Answering only first four parts as per HomeworkLib policy
C) PS = .5*(14-10)*400
= 800
D) now each firm produce = 400/100 = 4
Each firm profit excluding fixed cost
= 4*14 - .5*(4)2-10*4
= 56-48 = 8
So total industry profit = 8*100 = 800.
Hence proved
The handmade snuffbox industry is composed of 100 identical firms, each having short-run total costs given by 9.8. STC 0.5104 +5 and short-run marginal costs given by SMC q+10 where q is the output o...
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