How much will each firm produce in the equilibrium

Reference no: EM13204142

A competitive industry currently consists of N= 10 identical firms. An individual firm's total cost function is given by TC = 0.5q2 + 200. Market demand is given by Q = 3000-5P. In the short run, how much will each firm produce in the equilibrium?

Reference no: EM13204142

Questions Cloud

Determine the average velocity over the time interval : A particle moves along a number line such that its position s at any time t, t(greaterthan or equal to), is given by s(t)=2t^3-15t^2+24t+1. A) Find the average velocity over the time interval [1,2].

Determine how much do individual firms produce : Industry X has a market demand curve given by the equation P = 100 - Q/100, where P is the market price, and Q is industry-wide output.100 perfectly competitive firms currently operate in industry X. Each of these firms has a total cost function g..

What is the probability that wait at least an additional min : what is the probability that you will have to wait longer than 10 minutes? if at 10:15 the bus has not yet arrived, what is the probability that you will have to wait at least an additional 10 minutes?

Explain a firefighter aim a fire hose : A firefighter aim a fire hose from 4 feet above the ground at a window that is 26 feet above the ground. The equation h=-0.01d^2+1.06d+4 models the path of the water when h equals height in feet

How much will each firm produce in the equilibrium : A competitive industry currently consists of N= 10 identical firms. An individual firm's total cost function is given by TC = 0.5q2 + 200. Market demand is given by Q = 3000-5P. In the short run, how much will each firm produce in the equilibrium

State two wine merchants enter paris : Two wine merchants enter Paris, one of them with 64 casks of wine, the other with 20. Since they have not enough money to pay the custom duties, the first pays 5 casks of wine and 40 francs

Explain the changes in the corn industry in tap : The small island of Tap, inhabited by the Tapese people, produces a single variety of corn. At the present time, each farmer produces his or her own corn, harvests it and carries it to the market for sale. On any market day in Tap, you will find m..

State what dimensions of the silo will use : The silo will be cylindrical in shape and have a flat top. The floor of the silo will be earth. What dimensions of the silo will use the least material for construction?

Calculate tonys average cost curves atc and afc : Tony owns a fancy Italian restaurant, Tony's Trattoria. He uses only the finest ingredients and hires the best chefs in the country. Suppose Tony's total cost function is given by the following relationship: TC =100 +10Q +Q^2 , where Q is the numb..

User Account

All Pages