Question
The docking station industry is perfectly competitive. Each firm producing the stations has long-run cost curve given by C = 400 + 20q + q2.
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 ....?
a. 75
b. 45
c. 20
d. 60
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
