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Assume a perfectly competitive Ontario golf ball market with 2,000 identical firms. -The total cost function of this market is CT(qi) = 5q^2 125. -
Assume a perfectly competitive Ontario golf ball market with 2,000 identical firms. -The total cost function of this market is CT(qi) = 5q^2 125. - The demand curve is Qd = 10000-10P a) Find the Supply curve for an individual firm. b) What is the short-term Supply curve for this industry? c) What is the short-term equilibrium market price? d) Will the company enter or exit this market? e) What is the long-term equilibrium market price? f) What is the number of companies in this sector in the long term
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