Question: QUESTION 18 Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC =400 + Q-, and MC = 2Q. For

QUESTION 18 Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC =400 + Q-, and MC = 2Q. For the corresponding market, suppose that demand is given by P = 200--Q and supply is given by P = -Q. 2 2 Given the firm's profits, is this situation sustainable in the long run? That is, will firms have an incentive to enter or leave the market? O Not sustainable, firms will enter the market. Not sustainable, firms will leave the market. O Sustainable, firms will neither enter or leave the market. O Cannot be determined. QUESTION 19 Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC = 400 +Q-, and MC = 2Q. For

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!

QUESTION 13 Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC -625 + 02 and MC=20, and for the industry, demand is given by P = 100 - Q and supply is...

Need help solving ASAP QUESTION 13 Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC=625 + Q2 and MC=20, and for the industry, demand is given by P = 100-...

ONOMICS (ECON-... WileyPLUS: Financial Accounting: Tools for Business Decision Making BBY 93.55 -0.84 maining Time: 1 hour, 33 minutes, 27 seconds. estion Completion Status: QUESTION TO Consider the...

QUESTION 14 Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC =625+ Q- and MC = 2Q. For the industry, suppose that supply is given by S = Q . However,...

uestion 2 Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC = 2500 + cQ + Q2, and MC = c + 2Q, where the term c > 0 can be interpreted as some extra...

Need help solving ASAP! QUESTION 14 Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC = 625 +Q and MC = 2Q. For the industry, suppose that supply is given...

Consider the following setup for a perfectly competitive market: Suppose that for the firm, /( =400+ (-, and MC =20. For the corresponding market, suppose that demand is given by P=200- - Q and...

Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC =400+ Q-, and MC =20. For the corresponding market, suppose that demand 1 is given by P = 200 - - Q and...

19 Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC =400+ Q2, and MC =20. For the corresponding market, suppose that demand is given by P = 200- - Q and...

Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC =400+ (2, and MC=20. For the corresponding market, suppose that demand is given by P= 200- - o and...

(Multiple Choice) 1. Future careers in fraud will most likely be: a. In low demand. b. In moderate demand. c. Low paying. d. In high demand and financially rewarding. 2. Studying fraud will help you:...

Sammy Co. distributes travel bags in retail stores at a price of P1550 each travel bag and gives credit terms of 1/10, n/30 to all customers. At the end of June, Sammy's closing stock consisted of 70...

Smudge, Inc., has established the following overhead cost pools and cost drivers for their product: \ table [ [ Overhead , Budgeted,,, ] , [ Cost Pool,Overhead Cost,Cost Driver,for Cost...

plese enswer True or False? 8. In a large multi-national organization, the Crisis Communication Team will designate liaison members at the local level. ERT members and/or ERT alternate members are...

1. Discuss the following statement: Everything is seen, heard and said by a subject, and accordingly is subjective.

1. This chapter is designed to give the reader an understanding of how the way a problem is framed is crucial for how it is perceived, both by the recipient of a message and the person who wants to...

5. How is communication affected by how we demarcate the boundaries of a problem?