User Account

All Pages

Determine the market supply function

Assignment Help Business Economics
Reference no: EM131472391

Suppose that a firm has the following cost function: C(q) = 10q^2+ 200q + 1,500

a. Find the marginal cost function for this firm.

b.Suppose that there are 10 identical firms in the market. Determine the market supply function. (Hint: add up along the quantity dimension)

c. Now suppose that the market demand is given by C(q) = 500 -1/2 P. Solve for the market equilibrium price and quantity.

Reference no: EM131472391

Questions Cloud

Equilibrium price and quantity prior : Solve for the equilibrium price and quantity prior to the implementation of the tax.
Briefly identifies the practice problem : what did you discover that will help you address your practice problem? How might your research guide your work in your field agency?
What is a key driver for firms seeking international markets : What is a key driver for firms seeking international markets? What activity in international human resource would not be required in a domestic environment?
Must rochester accept the services of yancy : LeBaron was a CPA (certified public accountant) hired by Rochester Copier, a small retail business that sold office equipment, to examine its financial records.
Determine the market supply function : Suppose that there are 10 identical firms in the market. Determine the market supply function. (Hint: add up along the quantity dimension)
Could the organization legally cancel the banquet : Forman, a star player for a major league baseball team, was engaged to speak at a sports banquet sponsored by a veterans' organization in a large city.
Solve for the market equilibrium price and quantity : Suppose that the market demand is given by q^d = 6500-100p and the market supply is given by q^s = 1200p.
Which one of the given is not an example of biztainment : Which one of the following is not an example of biztainment? Which of the following would be the lowest in goods content and highest in service content?
May ross still recover the dollar five hundred from egan : Egan owed Terry, a pilot, $500 for flying lessons. Terry assigned his claim against Egan to Ross. Before Ross had notified Egan of the assignment.

Reviews

Write a Review

Business Economics Questions & Answers

  Methods of detecting autocorrelation you would leverage

Describe a situation in which autocorrelation might be present and which of the three methods of detecting autocorrelation you would leverage. Explain your rationale. Describe what remedial measure you would take to address autocorrelation if it were..

  The current exchange rate between japan and u.k.

What would you expect the Forward Rate to be between Japanese Yen and British Pounds, one year from now?

  What is market-clearing price for monopolist product

The marginal revenue generated for the monopolist by the 13in unit of its product is $6. What is the market-clearing price for the monopolist's product when 13 units are supplied to the market?

  These makes the most economic sense

Assume there are 1000 homes in a flood zone in an area in which sea levels are rising. An additional 1000 homes are above the flood zone and at less risk. A levee could be built to prevent the rise in sea level from affecting the homes. It is worth $..

  Price elasticity of demand for protein powder

Seth is a competitive body builder. He says he has ti have his 12 oz package of protein to " feed his muscles" every day. On the basis of this information, what can you conclude about his price elasticity of demand for protein powder?

  If a case is reversed and remanded

If a case is reversed and remanded, it:

  Evaluate the arguments of the owner and ceo

Evaluate the arguments of the owner and CEO. Provide a recommendation as to whether Auto Parts, Inc. should shut down its factory in Buffalo.

  The model of the steady-state rate of unemployment

The model of the steady-state rate of unemployment assumes that the size of the labor force is fixed. If the size of the labor force is allowed to vary: Please tells me how the job-loss and job-finding processes will differ from the situation when th..

  Assuming the industry is in long-run equilibrium

Suppose there are ten firms in a monopolistically competitive industry, each with an equal share of the market. The market demand is given as Q = 10200 – P.   Each firm has a total cost function TC = 51000 + 500q2. Assuming the industry is in long-ru..

  Calculate level of output worker at golden rule steady state

Consider a Solow economy with the following Cobb-Douglas production function: The capital share of output (a) is 25%, population growth (n) is 1.5%, and the depreciation rate (δ) is 4%. The economy is in steady-state with a growth rate of output per ..

  Demand schedules for calculators in sweden and norway

Problem: Table Illustrates the supply and demand schedules for calculators in Sweden and Norway. On graph paper, draw the supply and demand schedules for each country.

  Describe if the factors of production earn marginal product

suppose that an economy consumes all salary income and saves all capital income. Describe if the factors of production earn their marginal product.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd