{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-21T07:11:02-04:00", "answer_date": "2024-06-21 07:11:02", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "3414084", "url": "\/study-help\/questions\/ps549-multi-response-question-july-5-2021-at-135-am-3414084", "question_creation_date_js": "2024-06-21T07:11:02-04:00", "question_creation_date": "Jun 21, 2024 07:11 AM", "meta_title": "[Solved] PS5.4.9 multi response question July 5, 2 | SolutionInn", "meta_description": "Answer of - PS5.4.9 multi response question July 5, 2021 at 1:35 AM Despondent over the Red Sox's terrible season, Prof. Gruber de | SolutionInn", "meta_keywords": "ps5.4.9,multi,response,question,july,5,2021,1,35,despondent,red,sox", "question_title_h1": "PS5.4.9 multi response question July 5, 2021 at 1:35 AM Despondent over the Red Sox's terrible season, Prof. Gruber decides to quit his day job", "question_title": "PS5.4.9 multi response question July 5, 2021 at 1:35 AM Despondent over", "question_title_for_js_snippet": "PS5 4 9 multi response question July 5, 2021 at 1 35 AM Despondent over the Red Sox's terrible season, Prof Gruber decides to quit his day job and start a bicycle manufacturing firm in Kendall Square As he starts looking into the bicycle manufacturing industry, has some interesting features First, he realizes that it opera competitive industry Second, he finds that there are two technologies used by firms in the industry Technology 1 uses solar power, and has a cost function c1(q) q 4q 2 32 for q 0 Technology 2 uses electricity from the grid and is more efficient, with a cost function C 2(q) q 2q 2 32 for q 0 Assume that we are in the long run, so firms using both technologies can shut and leave the market at 0 cost, so that C(O) 0 for both technologies he realizes it Now, suppose that the government of Massachusetts offers solar subsidies to 100 bicycle manufacturers These subsidies are for $80 and the manufacturers receive these subsidies as long as they construct a bicycle manufacturing plant using the newly invented solar technology (i e technology 1) 1 What is the new long term price (p') 2 How much will be produced in total by firms with technology 1(01) 3 How much will be produced by total by firms with technology 2 (02) 4 How many firms will there be with technology 1 (N1) 5 How many firms would there be with technology 2 (N2) 6 How much profit will be earned by each firm with technology 1 7 How much profit will be earned by each firm wrth technology 2", "question_description": "\"image

PS5.4.9 multi response question <\/p>

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\"image<\/div><\/div><\/div> July 5, 2021 at 1:35 AM Despondent over the Red Sox's terrible season, Prof. Gruber decides to quit his day job and start a bicycle manufacturing firm in Kendall Square. As he starts looking into the bicycle manufacturing industry, has some interesting features. First, he realizes that it opera competitive industry. Second, he finds that there are two technologies used by firms in the industry. Technology 1 uses solar power, and has a cost function c1(q) = q + 4q\"2 + 32 for q>0. Technology 2 uses electricity from the grid and is more efficient, with a cost function C\"2(q) = q +2q\"2 _32 for q>0 . Assume that we are in the long run, so firms using both technologies can shut and leave the market at 0 cost, so that C(O) = 0 for both technologies. he realizes it Now, suppose that the government of Massachusetts offers solar subsidies to 100 bicycle manufacturers. These subsidies are for $80 and the manufacturers receive these subsidies as long as they construct a bicycle manufacturing plant using the newly-invented solar technology (i.e. technology 1).| 1. What is the new long term price (p') 2. How much will be produced in total by firms with technology 1(01)? 3. How much will be produced by total by firms with technology 2 (02) 4. How many firms will there be with technology 1 (N1) 5. How many firms would there be with technology 2 (N2) 6. How much profit will be earned by each firm with technology 1? 7. How much profit will be earned by each firm wrth technology 2", "transcribed_text": "", "related_book": { "title": "Financial Accounting in an Economic Context", "isbn": "9781118139424, 9781118139431, 470635290, 1118139429, 1118139437, 978-0470635292", "edition": "8th Edition", "authors": "Jamie Pratt", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/61.jpg", "uri": "\/textbooks\/financial-accounting-in-an-economic-context-8th-edition-61", "see_more_uri": "" }, "free_related_book": { "isbn": "0983841594", "uri": "\/textbooks\/my-philosophy-for-successful-living-1st-edition-978-0983841593-219945", "name": "My Philosophy For Successful Living", "edition": "1st Edition" }, "question_posted": "2024-06-21 07:11:02", "see_more_questions_link": "\/study-help\/questions\/business-accounting-2024-September-21", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/table-76-found-on-the-textbooks-web-site-gives-data", "description": "Table 7-6 (found on the textbook's Web site) gives data on the real rate of return (Y) on common stocks, the output growth (X2), and inflation (X3), all in percent for the United States for 1954 to...", "stars": 3 }, { "url": "\/study-help\/business-law\/hewlettpackard-company-hp-monitored-the-phones-of-its-directors-to-1298581", "description": "Hewlett-Packard Company (HP) monitored the phones of its directors to find the sources of leaks of company information to the media. 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