What are the answers ? simple steps are enough

36. 37. 38. 39. 40. There are many identical rms (having the same production costs and producing the same product) in a competitive market. Their product is assumed to be perfectly divisible. When one rm produces q units, its marginal cost is M=q and the corresponding total variable cost is TVC(q) = 0.592 The demand curve in the market is Q=2mm2m3 Moreover, assume that the industry is constant cost. The market is currently in a long-run equilibrium, and the equilibrium price is $4 per unit. Using the information, we conclude that there are [ Answer36 ] rms in the market. Using this information, we conclude that the xed cost of an individual rm is [ Answer37 ] dollars. Using this information, we conclude that the short-run supply curve of this industry is of the form Q=A+BXP where A is equal to [ Answer38A ], and B is equal to [ Answer-383 ] Suppose now the market demand has become Q = 3600 3GP Using the information, we can calculate that in the long run, an individual rm will produce [ Answer39 units. Your boss Jeff wants you to maximize revenue from sales of postcards in your souvenir shop. Previously, you sell 150 cards on a typical day when you set a price of 1 dollar each. After knowmg the objective from your boss, you experimented with setting a price of 1.25 dollars each, and found that you can sell 130 cards on a typical day. After gathering such information, and assuming that Jeff is facing a download sloping linear demand, you suggest to Jeff that the revenue-maximizing price is [ Answer40 dollars per card