Question
The long-run average total cost (LRATC) equation of a perfectly competitive firm is: LRATC =427 +3Q +0.001Q 2 , where Q represents units of output.
The long-run average total cost (LRATC) equation of a perfectly competitive firm is:LRATC =427 +3Q +0.001Q2, where Q represents units of output. If the total level of output in the industry is 150,000units, then how many firms can profitably operate in this industry?
Max. score: 4; Neg. score: 0
- 100
- 10
- 500
- 50
- 200
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Granularity Theory With Applications To Finance And Insurance
Authors: Patrick Gagliardini, Christian Gourieroux, Christian Gouriéroux
1st Edition
1316057135, 9781316057131
