Question
The docking station industry is perfectly competitive. Each firm producing the stations has long-run cost curve given by C = 400 + 20q + q
The docking station industry is perfectly competitive. Each firm producing the stations has long-run cost curve given by C = 400 + 20q + q2. (You may assume this is both the short-run and the long-run cost curve.) The market demand is given by Q = 3000 - 25p. The long-run equilibrium number of firms is _____.
Group of answer choices
45
75
60
20
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The Economics of Women Men and Work
Authors: Francine D. Blau, Marianne A. Ferber, Anne E. Winkler
7th edition
978-0190670863, 019067086X, 132992817, 978-0132992817
