Suppose there are 1000 identical wheat farmers. For each, TC = 10 + q2. Market demand is

Question:

Suppose there are 1000 identical wheat farmers. For each, TC = 10 + q2. Market demand is Q = 600,000 - 100p. Derive the short-run equilibrium Q, q, and p. Does the typical firm earn a short- run profit?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Microeconomics

ISBN: 978-0132857123

8th edition

Authors: Robert Pindyck, Daniel Rubinfeld

See More Books

Question Posted: Aug 05, 2013 03:43 AM

See More Questions

In a competitive market, the market demand is Q d = 150 - 2P and the market supply is Q s = 30 + 4P. A price ceiling of $16 will result in a?
The demand function for a certain product is given by p = 50 - 10q where q is thequantity and q is the price. Find the consumers' surplus (C.S) if the market equilibrium pointis (3, 20).
Suppose market demand is Q = 1000 - 4p. If all firms have LRAC = 50 - 5q + q2, how many identical firms will there be when this industry is in long-run equilibrium?
Imagine you discover a yeast mutant that exhibits a general inability to grow and thrive compared to wild-type yeast. You predict that the mutant has a defect in a basic process necessary for...
AV-canyon supports a 100-ft high, constant-angle (120) arch dam. If the canyon is 60 feet wide at the top and the design freeboard is 6 ft (i.e., the water level is 6 feet below the top of the dam),...
Yost received 300 NQOs (each option gives Yost the right to purchase 10 shares of Cutter Corporation stock for $15 per share) at the time he started working for Cutter Corporation three years ago....
Why might container shipping be more useful and important for exporters in some sectors than others? LO.1
1. Define Lawn Cares current strategic mission, strategy, competitive priorities, value chain, and how it wins customers. What are the order qualifiers and winners? Draw the major stages in their...
FULL SCREEN PRINTER VERSION RACK NEXT Multiple Choice Question 231 On January 1, Marigold Corp. issued $3000000, 14%, 5-year bonds with interest payable on December 31. The bonds sold for $3216288....
Mendez Metal Specialties, Inc., has a seasonal pattern to its business. It borrows under a line of credit from Central Bank at 1 percent over prime. Its total asset requirements now (at year end) and...
Rather than focusing on risk from an investors decision-making perspective, consider the risk of corporate decisions and how investors perceptions affect the true risk of corporate decisions. a. Why...
Suppose the marginal cost for a firm is SMCi=4+Qi, and there are 1000 identical firms, and the market demand for this product is P= 10 0.002Q. If the government imposes a specific tax of $1.00 per...
You have just finished the audit field work of EyeSore Optics, a publicly held optical equipment manufacturing company. EyeSore has a manufacturing subsidiary in Shenzhen, China. Your firm did not...
Link two articles from a trade journal in your field and discuss them in a short paper...
Evaluate vendors for supplying differentiated or specialized widgets. Review the "Supplier Scorecard Data" document and answer the questions below. 1. Discuss which supplier you will select,...
3. By keeping the leading term in the relativistic correction, the kinetic energy operator T of a relativistic electron in one dimension can be written as p 3p4 + 2m 8m3c2 where c is the speed of...
CHOOSE CORRECT OPTION How might inadequate training impact Thandiwe's ability to address classroom challenges? a. Develops effective teaching strategies b. Enhances problem solving skills and creates...
A 3.5-kg cannon on wheels is loaded with a 0.0527-kg ball. The cannon and ball are initially moving forward with a speed of 1.27 m/s. The cannon is ignited and launches a 0.0527-kg ball forward with...
Cost of equity How does the CAPM help in estimating the cost of equity? Discuss the implications of the answer for both the firm and the investor.
A researcher reports a significant two-way between-subjects ANOVA, F(3, 40) = 2.96. State the decision to retain or reject the null hypothesis for this test.
Prove that after transforming the data as explained in the question above, homoscedasticity prevails. Question above Write and explain the formula you would use to correct for heteroscedasticity if...
Rivera Company exchanges old delivery equipment for new delivery equipment. The book value of the old delivery equipment is $31,000 (cost $61,000 less accumulated depreciation $30,000). Its fair...
Assume the same information as BE10-15, except that the fair market value of the old delivery equipment is $38,000. Prepare the entry to record the exchange.
African Lakes Company purchased a delivery truck. The total cash payment was $27,900, including the following items. Negotiated purchase price....... $24,000 Installation of special shelving........
) A form used to organize and check data before preparing financial reports is known as a(n):A) statement of financial position.B) income statement.C) ledger. D) worksheet.2) Bringing account...
16) The entry to record the payment of office salaries would be: A) Debit Cash; Credit Salaries PayableB) Debit Cash; Credit Salaries ExpenseC) Debit Salaries Expense; Credit Accounts PayableD) Debit...
9) The general journal:A) is the book of original entry.B) is the book of final entry.C) contains account balances.D) is completed after the closing entries.10) The process of initially recording...

Suppose there are 1000 identical wheat farmers. For each, TC = 10 + q2. Market demand is

Question:

Step by Step Answer:

MC of each firm 2q This is also supply curve of ...View the full answer

Microeconomics

Students also viewed these Economics questions