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 = 4000 - 25p. The long-run equilibrium number of firms is _____.
Group of answer choices
125
60
75
20
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Foundations of Business
Authors: William M. Pride, Robert J. Hughes, Jack R. Kapoor
6th edition
1337386928, 9781337670975 , 978-1337386920
