Long-run market supply curves

Assignment Help Business Economics
Reference no: EM131586837

Suppose the price of bagels in Allentown is currently $0.75 per bagel. There are 10 low-cost bakeries that can produce bagels, each of which has the supply function Qs = 200P - 100. There are 10 high-cost bakeries that can produce bagels, each of which has the supply function Qs = 200P - 200. (These individual supply functions apply in the short run and the long run.) Which bakeries will be active when the price is $0.75? If the price rises to $1.25, what will be the market supply in the short run? In the long run? Graph the short-run and long-run market supply curves.

Reference no: EM131586837

Questions Cloud

Describe your selected persons biographical background : Analyzing how their contribution from the past continues to contribute to today's public health system and how it might guide future work within the industry.
Briefly identify one technique for managing stress : Explain team conflict and stress when working with diverse members. Do you feel teams benefit by having diverse members or does it just cause conflict
Is the set of all finite graphs countable or uncountable : Consider the set W of all words in the English alphabet (sensical or otherwise). What is |W|?
Explain at least three factors that would lead an investor : Detailed Analysis of the Nation- Explain at least three factors that would lead an investor to invest in the country you selected as an emerging market.
Long-run market supply curves : In the long run? Graph the short-run and long-run market supply curves.
Attractions for manufacturers to locate to alabama : Training and workforce development are huge attractions for manufacturers to locate to Alabama. If this trend continues as statistics suggest
Beta measures-ratios that measure how efficiently firm : Beta measures. Ratios that measure how efficiently a firm uses its assets to generate sales are known as _____ ratios.
Draw different binary search trees for micro-dictionary : Write the converse of If a graph G has 30 vertices, then G is not blue.
Edward said and moustafa bayoum : Edward Said and Moustafa Bayoumi- Discourse and Policy

Reviews

Write a Review

Business Economics Questions & Answers

  By driving to the farther gas station-opportunity cost

The price of gasoline is $2.50 per gallon at the closest gas station, but is only $2.30 per gallon at a gas station two miles away. By driving to the farther gas station, opportunity cost is:

  What is happening to the us real exchange rate

What is happening to the US real exchange rate in each of the following situations? Explain.

  Describe what occurs to american imports and exports

Describe what occurs to American imports and exports when the U.S. dollar is strong. Describe what occurs to American imports and exports when the U.S. dollar is weak.

  Market is great illustration of the supply-demand concepts

The housing market is a great illustration of the supply and demand concepts discussed this week. The events of the past 5-7 years provide a clear illustration of how changes in supply and demand affect prices and quantities in markets. Here are some..

  Inflation is a sustained rise in the average price level

Inflation is a sustained rise in the average price level. An increase in aggregate demand can cause demand-pull inflation. A decrease in aggregate supply can cause cost-push inflation. Prior to World War II, both inflation and deflation were common, ..

  Statements goes against porters five forces model

Which of the following statements goes against Porter's 5 forces model?

  Making large investments in the global financial markets

In the international environment, it is apparent that China is making large investments in the global financial markets in their shift away from exports. Is there a connection between China's exports and its financial investments in other countries?

  Derive the long-run cost function of the firm

For a firm with two variable inputs, X = (KL)1/4; where X is the level of output; while K and L are the inputs of capital and labour, respectively. The rental rate per unit of capital is $4, and the wage rate per unit of labour is $64. Derive the lon..

  Some of the forces working against freer global trade

Some of the forces working against freer global trade are: A: bi-lateral trade agreements B. industries that are at a comparative advantage C. the support of environmental and labor groups D. strategic trade policy by national governments

  Calculate the cpi

A produced 7 cups of coffee($4 a cup) and 4 cups of decaf ($3 a cap) during 2013, During 2014 , A produced 9 cups of coffee($5 a cup) and 5 cups of decaf( $3 a cup) Calculate the CPI for 2014 assuming 2013 is the base year.

  No cost how do the indifference curves change

The two goods are money and ice cream and eating more than a certain amount of ice cream makes the consumer sick. If you assume that the consumer can dispose of unwanted ice cream at no cost how do the indifference curves change?

  Small consulting firm is only interested

A small consulting firm is only interested in hiring College graduates (denoted by S), but it does not know how many it should hire in order to be profit maximizing. Assume there is a competitive wage of $20 per hour and the production function is F(..

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!

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