Suppose that thepersonal computerindustry is characterized by a very large producer, Enormous Personal Computer, Inc., and 10

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Suppose that thepersonal computerindustry is characterized by a very large producer, Enormous Personal Computer, Inc., and 10 other firms in a competitive fringe that produce clones of EPC's computers. Demand for personal computer is given by:Q = -10p + 35000

EPC can product PCs at a constant marginal cost of $1,000, while firms in the competitive fringe face increasing marginal cost, given by:

MC = q + 500

a-Assume that each member of the competitive fringe acts as a price taker. Find each firm's supply function.

Graph the supply curve for all fringe firms combined in the diagram below. Also graph market demand.

2000 1900 1800 4700 1600 1500 1400 1300 price 1000- 900 : 800 - 700 600 8000 10000 12000 14000 16000 18000 20000-22090 computers

Posted Date: Jul 02, 2024 04:18 AM

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Suppose that thepersonal computerindustry is characterized by a very large producer, Enormous Personal Computer, Inc., and 10

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