I have a question regarding a problem; the oilindustry is perfectly competitive 1: for each producer, the TC = 400 + 4q^2 2: the marked demand for oil (in tons) is given by Qd= 160-p what would the supply curve be for an individual producer? Correctly solve it's.

I have a question regarding a problem; the oilindustry is perfectly competitive 1: for each producer, the TC = 400 + 4q^2 2: the marked demand for oil (in tons) is given by Qd= 160-p what would the supply curve be for an individual producer? Correctly solve it's.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter9: Perfect Competition

Section: Chapter Questions

Problem 7WNG

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Question

Q) I have a question regarding a problem; the oilindustry is perfectly competitive

1: for each producer, the TC = 400 + 4q^2

2: the marked demand for oil (in tons) is given by Qd= 160-p

what would the supply curve be for an individual producer?

Correctly solve it's.

Defintion Defintion Curve that represents the graphical relationship between the total supply of goods and services and the price level in the economy. When the price level increases, producers tend to supply more of a product in the market to earn a higher revenue or vice versa.

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