cost function of a single product firm is: C(Q)=1.9+4.5Q+8.2Q^2 If all firms have the same cost structure. what wil be the long run equilibrium price in this market?
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- The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, including firms, is possible. We have identical firms, each with a Total Cost curve of TC=712+q^2 and Marginal Cost curve MC=2q. Market demand is Q=895-2P. What is the long-run equilibrium market price? Enter a number only, drop the $ sign.A firm produces a product in a competitive industry and has a total cost function C = 80 + 4q + 2q2 and a marginal cost function MC = 4 + 4q. At the given market price of $28, the firm is producing 7 units of output. Is the firm maximizing its profit? What quantity of output should the firm produce in the long run?Consider a competitive industry with a market demand curve of P = 120 - Q, where P is market price and Q is the quantity demanded in the market. In the short run there are 4 firms in the industry, and each firm has a total cost function of TC = 144 + q^2, where q is output of the individual firm. The short-run industry supply curve Qs is?
- Assuming fixed costs are unavoidable in the short run, a perfectly competitive firm’s short run supply curve is the portion of Group of answer choices a) its MC curve that lies above its average total cost curve. b) its average variable cost curve that lies below its average total cost curve. c) its MC curve that lies above its average variable cost curve. d) its average variable cost curve that lies above its average total cost curve.a perfect competitive firms has the following total cost function: total output : 0 1 2 3 4 5 6 7 total cost : 20 30 42 55 69 84 100 117 how much will the firm produce if the price of the production the market is RS. 14 per unit? how will it change its output if price rises to RS. 16 per unit?Assume the market for chips is perfectly competitive. The market supply and demand curves for chips are given as follows: supply curve: P = 0.000002Q demand curve: P = 11 - 0.00002Q The short run marginal cost curve for a typical chips factory is: MC = 0.1 + 0.0009Q Determine the equilibrium price for chips. Determine the profit maximizing short run equilibrium level of output for a chips factory. Assuming that all of the chips factories are identical, how many chips factories are producing chips?
- The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, including number of firms, is possible. We have identical firms, each with a Total Cost curve of TC=862+q^2 and Marginal Cost curve MC=2q. Market demand is Q=856-2P. What is the number of firms in the market in the long run equilibrium?Multiplying one firm’s short-run supply function to the number of firms in a specified industry will give you the short-run market supply function. True or false.Assume that a competitive firm has the total cost function: TC=1q3−40q2+820q+1900 T C = 1 q 3 - 40 q 2 + 820 q + 1900 Suppose the price of the firm's output (sold in integer units) is $600 per unit. How many units should the firm produce to maximize profit? What is the total profit at the optimal output level? Please specify your answers as integers.
- Short-run supply and long-run equilibrium Consider the competitive market for titanium. Assume that, regardless of how many firms are in the industry, every firm in the industry is identical and faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on the following graph. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.The cost function for Acme Laundry is: TC(q)=10+10q+q^2 so its marginal cost function is: MC(q)=10+2q where q is tons of laundry cleaned. Derive the firm's average cost and average variable cost curves. What q should the firm choose so as to maximize its profit if the market price is p? How much does it produce if the competitive market price is p = 50?Consider a firm in a Perfectly Competitive industry. Suppose the price in this industry is $26. The total cost (TC) function for each firm is TC = 0.05q^2 + 1,080. If the marginal cost (MC) function for the firm is MC = 0.1q, a)what is the profit maximizing quantity for the firm to produce? b)what is the profit for the firm at the profit maximizing point?
