The treadmill market is a competitive industry with long-run economic costs. Provided the following information, what is the long-run equilibrium price in this industry? CLR(q) =32+2q² MC=4q Avg. cost = 32/q+2q

The treadmill market is a competitive industry with long-run economic costs. Provided the following information, what is the long-run equilibrium price in this industry? CLR(q) =32+2q² MC=4q Avg. cost = 32/q+2q

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Perefect Competition

Section: Chapter Questions

Problem 5SQP

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Question

The treadmill market is a competitive
industry with long-run economic costs.
Provided the following information, what
is the long-run equilibrium price in this
industry?
CLR(q) =32+2q²
MC=4q
Avg. cost = 32/q+2q
A
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