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tor pizza in Sun Prairie is given by The pizza market is perfectiy competitive. 18. How many pizzas are sold in the Sun Prairie area daily? а. 20 рizzas b. 50 pizzas с. 100 рizzas d. 10 pizzas

tor pizza in Sun Prairie is given by The pizza market is perfectiy competitive. 18. How many pizzas are sold in the Sun Prairie area daily? а. 20 рizzas b. 50 pizzas с. 100 рizzas d. 10 pizzas

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Use the following information to answer the next four questions: Sun Prairie has 10 pizzerias, each with a marginal cost given by MC = 2Q. The daily demand for pizza in Sun Prairie is given by P = 60 - Q. The pizza market is perfectly competitive. 18. How many pizzas are sold in the Sun Prairie area daily? a. 20 pizzas b. 50 pizzas c. 100 pizzas d. 10 pizzas 19. Salvatore's is one of the ten pizzerias in Sun Prairie. Suppose that their total costs can be represented as TC = Q² + 16. What quantity should they produce to break-even in this market? a. 2 pizzas b. 20 pizzas c. 40 pizzas d. 4 pizzas 20. Assuming every other pizzeria also has the same total costs, what would be the price of pizza in Sun Prairie in the long run? Recall the firms can enter or exit the market in the long run. Assume that entering firms also have the same total costs. a. $20 b. $10 c. $8 d. $6 21. How many pizzerias will operate in the Sun Prairie area in the long run? а. 10 b. 13 с. 15 d. O i.e. all firms exit as every firm makes losses.
Transcribed Image Text:Use the following information to answer the next four questions: Sun Prairie has 10 pizzerias, each with a marginal cost given by MC = 2Q. The daily demand for pizza in Sun Prairie is given by P = 60 - Q. The pizza market is perfectly competitive. 18. How many pizzas are sold in the Sun Prairie area daily? a. 20 pizzas b. 50 pizzas c. 100 pizzas d. 10 pizzas 19. Salvatore's is one of the ten pizzerias in Sun Prairie. Suppose that their total costs can be represented as TC = Q² + 16. What quantity should they produce to break-even in this market? a. 2 pizzas b. 20 pizzas c. 40 pizzas d. 4 pizzas 20. Assuming every other pizzeria also has the same total costs, what would be the price of pizza in Sun Prairie in the long run? Recall the firms can enter or exit the market in the long run. Assume that entering firms also have the same total costs. a. $20 b. $10 c. $8 d. $6 21. How many pizzerias will operate in the Sun Prairie area in the long run? а. 10 b. 13 с. 15 d. O i.e. all firms exit as every firm makes losses.
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