What is the long-run equilibrium price in industry

Reference no: EM13750212

B industry is perfect competitive, and each producer has a long-run total cost curve TC(Q) = 20Q - 2Q^2 + Q^3. The market demand curve is D(P) = 2488 - 2P.
a) What is the long-run equilibrium price in this industry? How much would an individ- ual firm produce?
b) How many active producers are in B industry in a long-run competitive equilibrium?

Reference no: EM13750212

Questions Cloud

Consider a hypothetical example of trade between the united : Consider a hypothetical example of trade between the United States (a developed country) and Brazil (a developing country) is as followU.S. Exports ($b) to Brazil U.S. Imports ($b) from BrazilLotion & Powder 80 65Perfume 70 120

Who were the arsonists : a. According to Geithner, What is the first obligation of the government during a financial crisis?b. Who were the arsonists?c. How does the recovery from the 2008 recession in the United States compare to others around the world in the last century?

Develop risk profile and cumulative risk profile : Develop risk profile and cumulative risk profile for each strategy. Indicate which strategy dominate the others and explain why. Indicate type of the dominance

Achieve the highest expected payof : Clearly present the decision and event nodes, the associated probabilities, and the payoffs. b) What should the management do to achieve the highest expected payof

What is the long-run equilibrium price in industry : B industry is perfect competitive, and each producer has a long-run total cost curve TC(Q) = 20Q - 2Q^2 + Q^3. The market demand curve is D(P) = 2488 - 2P.a) What is the long-run equilibrium price in this industry? How much would an individ- ual firm..

Plan and determining critical path : Using the District4WarehouseMove WBS.xls provided, create a Microsoft project plan for the District 4 Warehouse Move project. Use the PDF document, Project Plan Check - District4Move, to check your work to be sure you have created your starting pr..

Encourage efficiency and operational cost reduction : Organizations across the country are looking to improve on how health care is delivered. Keeping safety and quality in mind, administrations have looked to other industries for ways to encourage efficiency and operational cost reduction.

Various event categories and event-based transactions : Write a two-and-a-half-page report describing various event categories and event-based transactions that are used by the network management systems to bring an alarm, event, or alert to the network manager's attention

Various metrics used to gauge network : Write a two-and-a-half-page report briefly describing the various metrics used to gauge network effectiveness and efficiency in meeting organizational goals

User Account

All Pages