The demand in a market is given by D(p) = 10 - p². There are 6 ompetitive sellers each with a cost function C(q) = ²/+q². 1 D Find the supply curve for an individual seller and the supply curve fo the market. Find the short run competitive equilibrium price with the 6 sellers. Find a long run competitive equilibrium price and number of sellers.

The demand in a market is given by D(p) = 10 - p². There are 6 ompetitive sellers each with a cost function C(q) = ²/+q². 1 D Find the supply curve for an individual seller and the supply curve fo the market. Find the short run competitive equilibrium price with the 6 sellers. Find a long run competitive equilibrium price and number of sellers.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter11: Profit Maximization

Section: Chapter Questions

Problem 11.11P

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