11.4 equilibrium price of skateboards? How many irms will there be? How many entrepreneurs will be hired, and what is their remuneration?

Suppose that the demand for skateboards shifts outward to Q =2428 − 50P.

How would you now answer the questions posed in part (a)?

The swimming pool maintenance sector consists of 100 identical firms, each having short-run total costs given by STC = 0.5q 2 + 10q + 5 and short-run marginal costs given by SMC = q+10, where q is the number of swimming pools serviced per day.

a.

What is the short-run supply curve for each pool maintenance irm? What is the short-run supply curve for the market as a whole?

b.

c.

d.

e.

f.

g.