Q1)

Select the correct answer from the choices given. Choose all that app_|y._ In the long-run, C] a. Average cost = Average variable cost D b. Average cost > Average variable cost [:1 c. Break-even point = Shut-down point C] d. Breakeven point > Shut-down point Four firms supply goods in a perfectly competitive market. The total cost function of each firm is given by 0(a) = 8c:2 +4061 where q is the quantity supplied by each firm. The market demand is given by P = 240 Q where P stands for a market price and Q is the market quantity demanded. Derive the short-run market supply curve. P= + Q Four firms supply goods in a perfectly competitive market. The total cost function of each firm is given by 0(a) = 8c:2 +40q where q is the quantity supplied by each firm. The market demand is given by P = 240 Q Where P stands for a market price and Q is the market quantity demanded. Derive the short-run equilibrium price and quantity. 'k P = and 0*: Four firms supply goods in a perfectly competitive market. The total cost function of each firm is given by 0(a) = 8c:2 +4067 where q is the quantity supplied by each firm. The market demand is given by P = 240 Q where P stands for a market price and Q is the market quantity demanded. Answer the profits of each firm at the shortrun equilibrium. Tip: The revenue is PQ = (200 - Q)Q = 200Q- Q2. The total cost function of a monopolist is given by C(Q) = 20Q The market demand is given by P = 200- Q Derive the marginal revenue (MR) of the monopolist. Select the correct answer from the choices given. O a. MR = 200 - Q O b. MR = 200-2Q O c. MR = 200Q-20 O d. MR = 200