Business, 12.08.2019 19:20 mtzann1568

Anumber of stores offer film developing as a service to their customers. suppose that each store offering this service has a cost function c(q) = 50 + 0.5q + 0.08q2 and a marginal cost mc = 0.5 + .16q. if the going rate for developing a roll of film is $8.50, is the industry in long-run equilibrium? if not, find the price associated with long-run equilibrium.  suppose now that a new technology is developed that will reduce the cost of film developing by 25%. assuming that the industry is in long-run equilibrium, how much would any one store be willing to pay to purchase this technology?

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Anumber of stores offer film developing as a service to their customers. suppose that each store off...