Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hi there please assist - 11 Suppose the rubber boats market is perfectly competitive and firms have identical cost structure. The rst table shows the

hi there

please assist - 11

image text in transcribed
Suppose the rubber boats market is perfectly competitive and firms have identical cost structure. The rst table shows the market demand schedule for rubber boats. and the second table shows the cost structure of each rm. The rubber boat market is perfectly competitive. Currently there are 100 identical firms. In the long run, the market price of a rubber boat is ,and the number of rms is . Prioe Q51 CI Marginal Average total (Siboat) (boatslweek) _ (boatsfweek) cost (Slboat) casusmoat) 1 9.00 12.00 2 10.00 11.00 3 11.00 11.00 13.00 _____________________ 4 12.00 11.25 14.00 390 ____________________ 5 13.00 11.60 0 $13.00;140 0 $12.00; 150 o $11.00: 160 O $10.00:170

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

China's Air Pollution Problems

Authors: Claudio O Delang

1st Edition

1317209281, 9781317209287

More Books

Students also viewed these Economics questions

Question

Discuss the various types of policies ?

Answered: 1 week ago

Question

Briefly explain the various types of leadership ?

Answered: 1 week ago

Question

Explain the need for and importance of co-ordination?

Answered: 1 week ago

Question

Explain the contribution of Peter F. Drucker to Management .

Answered: 1 week ago