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Smartphone market in china with firms

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Reference no: EM132519313

Consider the smartphone market in China with firms. Each firm's business opportunities are described by the following equations:

Demand: = 100 -

Marginal Revenue: = 100 - 2

Total Cost: = 50 + 2

Marginal Cost: = 2

a. How does , the number of firms in the market, affect each firm's demand curve?

b. How many units does each firm produce? What price does each firm charge? [Note]: The answers to this and the next question depend on.

c. How much profit does each firm make?

d. In the long run, how many firms will exist in this market?

Reference no: EM132519313

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