Suppose there are 50 identical firms in a perfectly competitive industry and each firm has a...
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Suppose there are 50 identical firms in a perfectly competitive industry and each firm has a short-run total cost function as follows: TC = 0.2q² +5q + 10 and the market demand as follows: Q = 500-150P What will be the short-run equilibrium price? a. P = 4.09 b. P = 5.09 c. P = 6.09 Suppose there are 50 identical firms in a perfectly competitive industry and each firm has a short-run total cost function as follows: TC = 0.2q² +5q + 10 and the market demand as follows: Q = 500-150P What will be the short-run equilibrium price? a. P = 4.09 b. P = 5.09 c. P = 6.09
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Answer Option a is correct Shortrun total cost TC 02q 2 5q 1... View the full answer
Related Book For
Managerial accounting
ISBN: 978-0471467854
1st edition
Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin
Posted Date:
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