Question
The demand schedule in a perfectly competitive market is givenby P = 93 1.5Q (for Q ? 62) and the long-run cost structure ofeach
The demand schedule in a perfectly competitive market is givenby P = 93 – 1.5Q (for Q ? 62) and the long-run cost structure ofeach company is:
Total cost: 256 + 2Q+ 4Q2 Average cost: 256/Q + 2+ 4Q Marginal cost: 2 +8Q
Q. New companies will enter the market at anyprice greater than:
8
61
88
Please clarify the calculation
The demand schedule in a perfectly competitive market is givenby P = 93 – 1.5Q (for Q ? 62) and the long-run cost structure ofeach company is:
| Total cost: | 256 + 2Q+ 4Q2 |
| Average cost: | 256/Q + 2+ 4Q |
| Marginal cost: | 2 +8Q |
Q. New companies will enter the market at anyprice greater than:
8
61
88
Please clarify the calculation
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
978-0538453257
