Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Nov 13, 2022

Suppose you are asked to analyze a competitive market with identical firms for the government. Inverse market demand is: p = 100 -0.01Q Each

Suppose you are asked to analyze a competitive market with identical firms for the government. Inverse market demand is: p = 100 -0.01Q Each firm's total cost function is: C(q) = 500+ 0.20q (a.) What is the marginal cost faced by each firm? MC= Write your response here..... (b.) Assuming the industry is in long-run equilibrium, how many firms are currently in this market? Write your response here.....

Step by Step Solution

★★★★★

3.35 Rating (158 Votes )

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provided below A MC dC... 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

Step: 3

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

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

IFRS 3rd edition

1118978080, 978-1119153726, 1119153727, 978-1119153702, 978-1118978085

More Books

Students also viewed these Economics questions

Question

★★★★★

2) Find the mean, median, and mode of the following data X/H OF Cars | F (frequency | of (cumulative | XF Sold Per dag frequency O 1 23 / 4 5 2 3 4 3 1 2 5 12 16 19 20 4 9 21 31 56 76

Answered: 1 week ago

Question

★★★★★

William buys a car at $100,000, but if there is flood, his car will be worth $20,000 only. He is risk averse and chooses to insure his car fully against floods at a fair premium of $4,000. His...

Answered: 1 week ago

Question

★★★★★

3. THE PACE OF AN ENGINEER IS 0.68m/pace. HE WALKS ALONG THE PERIMETER OF A TRIANGULAR LOT ABC AND FINDS OUT THAT HE MAKES 750 PACES ALONG LINE AB WHOSE BEARING IS $ 280 E AND MAKES 1520 PACES ON...

Answered: 1 week ago

Question

★★★★★

In September, Larson Inc. sold 45,000 units of its only product for $438,000, and incurred a total cost of $405,000, of which $43,000 was fixed costs. The flexible budget for September showed total...

Answered: 1 week ago

Question

★★★★★

The frequency response of a process G(j(o). Deduce the type number (number of integrations) for the system. Determine the transfer function of the system, G(s). Calculate the error to a unit step...

Answered: 1 week ago

Question

★★★★★

Give the sample spaces associated with the following experiments. Say how many simple events there are and list them if there are fewer than ten. If there are more than ten, list three simple events....

Answered: 1 week ago

Question

★★★★★

1. Make sure you can see over partitions.

Answered: 1 week ago

Question

★★★★★

The comparative statements of Simpson Company are shown below. All sales were on account. Net cash provided by operating activities was $108,000. Capital expenditures were $47,000, and cash dividends...

Answered: 1 week ago

Question

★★★★★

Troy Engines, Limited, manufactures a variety of engines for use in heavy equipment. The company has alwayn produced all of the necessary parts for its engines, including all of the carburetors. An...

Answered: 1 week ago

Question

★★★★★

Consider a specimen of ice that is at 210C and 1 atm pressure. Using Figure 9.2, the pressure-temperature phase diagram for H2O, determine the pressure to which the specimen must be raised or lowered...

Answered: 1 week ago

Question

★★★★★

9. Given the following sample Sample 9, 2, 5, 4, 12, 7, 8, 11, 9, 3, 7, 4, 12, 5, 4, 10,9, 6, 9, 4 Find the confidence interval of the mean for Z=1

Answered: 1 week ago

Question

★★★★★

Crane Company estimates that 2022 sales will be $32,000 in quarter 1, $38,400 in quarter 2, and $46,400 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending merchandise...

Answered: 1 week ago

Question

★★★★★

A company that is implementing Dynamics 365 is enrolled in the FastTrack program. The company wants to know at which point the Microsoft FastTrack Architect disengages. At which point does the...

Answered: 1 week ago

Question

★★★★★

Explain main takeaways from project management course in article. Explain highs and lows, your enthusiasm or anxiety about a career in project management, and any key concepts or growth you've...

Answered: 1 week ago

Question

★★★★★

Write tactics (use bullets) for how your client should use social media advertising, not limited to Facebook (consider Twitter and other social networks you're familiar with). You should be able to...

Answered: 1 week ago

Question

★★★★★

Define f ( x ) = ln x and g ( x ) = 3 + 2 x - x ^ 2 . A ) Plot f ( x ) and g ( x ) for 0 . 5 Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★

Assessment topic: Analysis of an Operating System scenario, Computer Organisation and Architecture Report Task Details: The report will require analysis of an operating system scenario and a report...

Answered: 1 week ago

Question

★★★★★

Doorharmony Company makes doorbells. It has a weighted- average cost of capital of 5% and total assets of $ 5,900,000. Doorharmony has current liabilities of $ 750,000. Its operating income for the...

Answered: 1 week ago

Question

★★★★★

Arma Ltd. sells equipment on September 30, 2017, for 20,000 cash. The equipment originally cost 72,000 and as of January 1, 2017, had accumulated depreciation of 42,000. Depreciation for the first 9...

Answered: 1 week ago

Question

★★★★★

Anthony Ferrari is uncertain about the control features of a bank account. Explain the control benefits of (1) A check and (2) A bank statement.

Answered: 1 week ago

Question

★★★★★

Lazy River Resort Ltd. opened for business on June 1, 2017. Its trial balance before adjustment on August 31 is as follows. In addition to those accounts listed on the trial balance, the chart of...

Answered: 1 week ago

Question

★★★★★

A $1000, 6.5% coupon bond issued by Bell Canada matures on October 15, 2029. What was its flat price on June 11, 2010 if its yield to maturity was 4.75% compounded semiannually?

Answered: 1 week ago

Question

★★★★★

Calculate the purchase price (flat) of each of the $1000 face value bonds

Answered: 1 week ago

Question

★★★★★

Each of the bond issues has a sinking fund requirement for retiring the entire principal amount of the issue on its maturity date. The coupon rates and rates of return on the sinking fund investments...

Answered: 1 week ago

Previous Question Next Question