Question
A firm in a perfectly competitive market has the following cost curve: TC = 200 + Q + 2Q^2 and The market demand is: Qd
A firm in a perfectly competitive market has the following cost curve: TC = 200 + Q + 2Q^2 and The market demand is: Qd = 121 - P. There are 20 identical firms in the market (N =20) in the short-run.
a) What is the price of the product in the long-run?
b) How many firms are there in the market in the long-run?
c) How much profit is each firm making in the long-run?
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Society, Economy, Religion And Festivals Of Tiwas In Assam
Authors: Bandana Baruah
1st Edition
9351288633, 9789351288633
