User Account

All Pages

What is the equilibrium price and quantity in the market

Assignment Help Business Economics
Reference no: EM133081719

Suppose that the market for some good is competitive and the demand curve can be written as Qd= 200-4P and the supply curve can be written as Qs= 20+2P.

  1. What is the equilibrium price and quantity in the market?
  2. Suppose that every firm in the market has total costs which can be expressed as TC=8+10Q+5Q^2.  What is the marginal cost function of each firm?
  3. How much will each firm produce?
  4. How many firms are currently in the market?
  5. What are the profits of the firms?
  6. Will the firms produce in the short run?
  7. Will the firms produce in the long run?
  8. What will happen to the number of firms in the market in the long run?
  9. What will be the profits of firms in the long run?

Reference no: EM133081719

Questions Cloud

Price elasticity of demand for air travel : The price elasticity of demand for air travel differs radically from first-class (-3) to unrestricted coach (-4) to restricted discount coach (-9).
How did the concepts and ideas and economics develop : How did the concepts and ideas and economics develop? Are there schools of thought with concepts that directly contradict each other whether from the past to a
Price elasticity of demand for cigarettes at the time : Back in the mid-1990s, the government in the UK announced that for every 10 per cent rise in the price of cigarettes, the demand was likely to fall by 6 per cen
What is the adjusted bank balance at the end of the month : The month-end bank statement shows a balance of P400,000; outstanding checks total P20,000; What is the adjusted bank balance at the end of the month
What is the equilibrium price and quantity in the market : Suppose that the market for some good is competitive and the demand curve can be written as Qd= 200-4P and the supply curve can be written as Qs= 20+2P.
Involuntary tax payments of united states citizens : "The government should not give our tax dollars away to foreigners in the form of foreign aid. Charity begins at home. If foreign countries are needy, then volu
What are your thoughts on health communication : Discuss about What are your thoughts on Health communication in this article - Yale School of Public Health Alumni Using Targeted Digital Messaging to Address
Design the system architecture : Design the system architecture, describing the important hardware and software components (servers, clients etc.) and their role. Justify your design decisions
Future of human resources in health care : What are some strategies you, as a health care manager, can use to overcome human resources challenges?

Reviews

Write a Review

Business Economics Questions & Answers

  Estimating the retirement saving

An employee builds up $700,000 over his 40-year working life in a personal account that he plans to use in retirement.

  Compute minimum cost production lot size-maximum inventory

XYZ Co. manufactures bicycles. Demand for this year’s model is expected to occur at a constant annual rate of 7200 items. One bicycle costs $245. The holding cost is based on a 11% annual rate, and production setup costs are $340. Use the production ..

  Contributory or comparative negligence theory

Does your home state's (AZ) jurisdiction follow a contributory or comparative negligence theory? How does this affect the outcome of lawsuits?

  Properties of the binomial distribution

Doctoral assistant ships of Ph.D students 50% have paid assistant ships. a random sample of n=200 students is chosen

  Explain the international trade policies

The labor-abundant countries of Asia have experienced rapidly rising 1 wages since those economics liberalized their international trade policies.

  What monetary policies should be pursued

What monetary policies should be pursued in such an environment? How might they work?

  Competition lead to quality improvements and cost reductions

How might protective tariffs reduce both the imports and the exports of the nation that levies tariffs? How might the import competition lead to quality improvements and cost reductions by American firms?

  Congestive heart failure seen the greatest increase

CVD is still the number one cause of death in the US. Why has congestive heart failure seen the greatest increase (epidemic levels)?

  Resulting deadweight loss relative

Illustrate what would be the size of the resulting deadweight loss relative to the competitive outcome.

  Why is it important to cite your sources in written works

Why is it important to cite your sources in written works? What are the benefits of following a formal citation style like APA?

  Budget constraint-each unit of clothing is half-price

You have $100 to spend on food and clothing. The price of food is $5 and the price of clothing is $10. A. Graph your budget constraint. B. Suppose that the government subsidizes clothing such that each unit of clothing is half - price, up to the firs..

  Welfare effects of a per unit tax

Solve for the new equilibrium quantity (Q**), the sellers price (Ps), and the consumer’s price (P**). Solve for consumer surplus, producer surplus, government revenue and total surplus with the tax.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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