Question
A perfectly competitive industry is characterized with the following demand function: D(p)=360-5p Each form has a short-run cost function of C(q)=q^2+8q+36 Currently (in the short
A perfectly competitive industry is characterized with the following demand function:
D(p)=360-5p
Each form has a short-run cost function of C(q)=q^2+8q+36
Currently (in the short run) there are 10 firms operating in the market
a) What is the short run equilibrium price?
b) What is the equilibrium output of a single firm?
?) How many firms are operating in the market on the long run?
d) What is the long run equilibrium price?
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Commerce And Coalitions How Trade Affects Domestic Political Alignments
Authors: Ronald Rogowski
1st Edition
0691219435, 9780691219431
