N4

The market for selling DeathRidez is perfectly competitive. The total cost function of an individual firm is given by C(q) = 250 + 10q^2.(a) How many DeathRidez would you produce if the market price is $140/Ridez.(b) If the market remains perfectly competitive, what will be the price of DeathRidez in the long-run?(c) If the city council has limited the number of DeathRidez sellers to be no more than 10. Assume that this regulation is binding so that there are exactly 10 firms. What is the city's market supply curve for DeathRidez?(d) Suppose that the market demand function is D(p) = 300 p. What will be the equilibrium price given that 10 firms supply DeathRidez in this market? (use supply curve from the previous answer)