User Account

All Pages

Determine the market equilibrium price and quantity

Assignment Help Microeconomics
Reference no: EM13877108

All 150 firms in a competitive industry have the same cost structure captured by the following total cost function:

TC = 2Q3:- 60Q2:+ 950Q + 600 If the market demand function is Qd = 4568.20 - 3.5P

determine the market equilibrium price and quantity.

Reference no: EM13877108

Questions Cloud

Rotor winding of the induction motor : a. How many poles are on the rotor winding of the induction motor? b. If the stator field in the induction machine rotates in a clockwise direction, what is the rotation direction of its rotor?
Criteria for purchase of the new lighting system : You are the purchasing agent for CSU. Your manager has asked you to design evaluation criteria for purchase of the new lighting system. Develop a supplier selection and evaluation model for this purchasing decision. Justify the reasoning for your ..
From the behavioral style information : 1. From the behavioral style information in this chapter and other subjects discussed in this book, what do you think is causing the complaints being made? 2. What system changes would you suggest for Child's Play? Why? 3. What can you do at this poi..
Design program in the form of matlab script : Consider the inductor of Problem. Write a simple design program in the form of a MATLAB script to calculate the number of turns and air-gap length as a function of the desired inductance.
Determine the market equilibrium price and quantity : All 150 firms in a competitive industry have the same cost structure captured by the following total cost function: TC = 2Q3:- 60Q2:+ 950Q + 600 If the market demand function is Qd = 4568.20 - 3.5P-determine the market equilibrium price and quantity.
Is nepco more or less profitable than its competitor : Prepare an income statement and a statement of retained earnings for July, and a classified balance sheet as of July 31. (These financial statements would be considered preliminary because they use unadjusted balances.) Calculate the net profit marg..
The cio of a company facing a potential class : You are the CIO of a company facing a potential class action lawsuit over damages caused by one of its products.  You are shocked when you receive an unsigned email message sent to your personal email account stating: "Destroy the contents of the ema..
Give the name of the account being debited or credited : For each transaction, give (a) the name of the account being debited or credited, (b) the basic account type (A, L, SE, R, E), (c) whether the account is increased (1) or decreased (2) due to the transaction, and (d) whether the account normally hold..
Select which leadership theory most accurately describes : Select which leadership theory most accurately describes your current or future approach to leadership. Based on the selected theory, give one (1) example from your personal or professional life when your leadership was effective and one (1) example ..

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd