How much output will each of firm produce

Reference no: EM13197050

Suppose there are n identical firms in a market. Each firm has fixed cost equal to 392, and variable cost given by VC=2q^2, where q is the amount that an individual firm produces. This means that an individual firm's marginal cost is given by MC=4q. Also the market demand is given by P=1148-3Q, where Q is the total amount of the good produced by all the firms combined. Therefore Q=n*q.

How much output will each of them produce?

Reference no: EM13197050

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