Find the number of firms that will be active in short run

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Reference no: EM13221569

Consider a market served by identical firms with cost funtion C(q)=722+(q^2)/200. The market demand is given by Qd=6500-100P and the short run market supply is given by Qs=1200p.

A. Find the number of firms that will be active in the short run, along with their profits maximizing output choices and their profit.

B. what will be the number of firms, their profit maximizing output choices and profits in the long run?

Reference no: EM13221569

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