Demand function is D(p) = 65-p. There are unknown number of firms with a total cost function C(q)= q^2 + q + 4 Find the supply of each firm Fund the total number of firms in the kong run Suppose demand drops to D(p)=62-q Find the price and number of firms in the short & long run

Demand function is D(p) = 65-p. There are unknown number of firms with a total cost function C(q)= q^2 + q + 4 Find the supply of each firm Fund the total number of firms in the kong run Suppose demand drops to D(p)=62-q Find the price and number of firms in the short & long run

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter3: Benefits, Costs, And Decisions

Section: Chapter Questions

Problem 9MC

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