Question
There are N monopolistically competitive firms in the market, each firm has a cost function C(y) = 32 + y^2 /2. Market demand is given
There are N monopolistically competitive firms in the market, each firm has a cost function C(y) = 32 + y^2 /2. Market demand is given by Y(P) = 136P. Find the equilibrium price, quantity and number of firms.
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Macroeconomics Principles Applications And Tools
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
7th Edition
978-0134089034, 9780134062754, 134089030, 134062752, 978-0132555234
