Each firm in an industry has long run cost function C 0 25q 3 10q 2 150q The market demand function of this industry Q 150 2P What is the long run Price of Equilibrium

The Answer is in the image, click to view ...

Question: Each firm in an industry has long run cost function C = 0.25q 3 - 10q 2 + 150q. The market demand function of this

Each firm in an industry has long run cost function C = 0.25q³- 10q²+ 150q. The market demand function of this industry Q = 150 - 2P. What is the long run Price of Equilibrium?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

At sea level, a person has a mass of 175 lbm. Determine the weight of this person in newtons (N).

\f9. A firm is in a competitive, constant cost industry. The firm's long-run total cost function is C = 0.01q3 - 2q2 + 150q. Market demand is Q = 16,000 - 200P and short-run market supply is Q =...

MULTIPLE CHOICE QUESTIONS: Select the best answer for each of the following questions. 7. If two market baskets lie on the same indifference curve then a) the two market baskets cost the same b) the...

Practice question 1 Suppose a firm has the following short run cost function: C = 20c]2 + 1280 1. Suppose price = $500. How much output does this firm supply to the market? 2. Calculate total revenue...

2. Each firm in a perfectly competitive market has the following long run cost function, LRTC= 50q2 - 10q + 200. The market demand function is Q = 2150 - 5P. Assume the market is in long-run...

Hello. Please help me solve these questions I am having some issues finding the variance and standard deviation. I feel like may have it, but unsure if I am coming out with the correct answer. Thank...

Question 30 0 I 1 point Suppose a competitive market is in equilibrium given a price of $10 and an output level equal to 100 units. The exact supply and demand functions are not known but the...

EXERCISE 1 Anthony Figueroa is a CPA, who works for an accounting consulting firm. His annual salary income is $70,000. Anthony is considering opening up his own consulting firm. He estimates that...

Need help answering this. PART 2 (40 points): Complete the following two questions in full PART 2 QUESTION 1: Representative Consumer model with Homogeneous Products: An industry consists of n firms...

Practice Problem: Perfect Competition Assume there are 6 firms that produce the same product in a competitive market. Suppose that each firm's cost function is given by C ( q ) = 5 q 2 + 2 q + 2 0 ....

Suppose a representative firm in a perfectly competitive, constant cost industry has a long run cost function TC=4q 2 +100q+100. The market demand function is Q=1000-p. a . Draw two diagrams, one for...

Fenwick Goods Ltd (Fenwick Goods) is a small pharmaceutical company. It is perhaps best known for its product Fenwick Air Fresh, as commonly used in many household bathrooms across the nation....

Bookkeeping is primarily A) preparing financial reports. B) analyzing the company's financial position. C) record-keeping. D) preparing tax reports.

sider the given vector field. F ( x , y , z ) = 7 x 2 y 2 z 2 2 ( y j z k ) ( a ) Find the curl of the vector field. curlF = ( b ) Find the divergence of the vector field. divF =

Based on the following information, compute net sales. Gross sales ............................................................... $3,860 Sales returns and allowances...

For each document or procedure listed below, indicate whether it would be used for a retail business or a wholesale business, as described in the chapter. 1. Sales ticket 2. Sales invoice 3. Credit...

Kimberly Payne and Arionna Maples decide to form a partnership by combining the assets of their separate businesses. Payne contributes the following assets to the partnership: cash, $20,000; accounts...

eBay Inc. developed a Web-based market place at http//WWW.ebay.com, in which individuals can buy and sell a variety of items. eBay also acquitted paypal, an online payments system that allows...

Prior to liquidating their partnership, Min and Alvarez had capital accounts of $120,000 and $200,000, respectively. The partnership assets were sold for $60,000. The partnership had no liabilities....

Among a group of 5 8 programmers, who know either Java or Python or both, 1 5 only know Java and 1 3 only know Python. What is the probability of randomly choosing a programmer who knows both...

4. What specific changes in the environment have taken place in relation to the information we have collected?

2. The purpose of the acquisition of the information.

1. What is the meaning of the information we are collecting?