Social Studies, 29.08.2020 03:01 santisammy237

A perfectly competitive market is described by the Aggregate demand curve Q = 60 – 2P and the aggregate supply curve Q = -10 + 5P. A typical firm (and all firms are identical to each other) in the market has a cost function = 16 + 2Q + Q2 (a)Calculate the equilibrium price and quantity
(b)Show that the price you derive in part (a) is commensurate with the long run equilibrium of this market. Explain
(c)In the long run, how many firms will be in the market?

Answers: 1

Show answers

Other questions on the subject: Social Studies

Social Studies, 21.06.2019 18:00, nevelle

Which of the above examples shows the most accurate cause and effect relationship? a. example a b. example b c. example c d. example d

Answers: 1

continue

Social Studies, 22.06.2019 01:50, blokkboii

When discussing comparative and absolute advantage, which best describes specialization? developing expertise in certain types of production limiting the types of goods and services produced targeting specific consumers and retailers producing certain items for specific market segments the answer is: the act of limiting the kinds of goods and services produced

Answers: 3

continue

Social Studies, 22.06.2019 14:30, briandgonzalezk

Which two words in this excerpt from the count of monte cristo can be used as synonyms to determine the meaning of the word grotto? dantès entered the second grotto. the second grotto was lower and more gloomy than the first; the air that could only enter by the newly formed opening had the mephitic smell dantès was surprised not to find in the outer cavern. he waited in order to allow pure air to displace the foul atmosphere, and then went on.

Answers: 3

continue

Social Studies, 22.06.2019 18:00, therinzler1825

Which principle do modern democracies share with ancient athens? a. all people deserve equal rights. b. there should be no taxation without representation. c. people should vote on all matters that concern them. d. people should have a voice in government.

Answers: 2

continue

You know the right answer?

A perfectly competitive market is described by the Aggregate demand curve Q = 60 – 2P and the aggreg...