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Your firm is one of 100 identical firms operating in the short run in a perfectly competitive market. Your total cost function (short run and long run) is C = 500 + 20 q + q2, and your marginal cost function is MC = 20 + 2q. The (short run and long run) market demand curve is given by Q = 4,500 – 5P.
a. Find the supply curve for your firm. Then, find the short-run market supply curve. Show work.
b.Find equilibrium price, P*, and quantity, Q*, in the market in the short run. Show work.
c.Find your firm’s total revenue, total cost, and profit in the short run. Show work.
d.Find the minimum efficient scale (MES) for your firm. Show work. Find the long-run equilibrium price in the market after entry or exit has occurred. Show work.
In 2010 in the country of Arlandia government debt was zero. You know that the government revenue for 2011 was $344, for 2012 was $360, for 2013 was $380. The government outlays for 2011 were $197 and for 2012 were $237. If you know that government d..
week 10 profit please respond to the following determine two to three 2-3 reasons why vectorcal may not always receive
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Illustrate what role does comparative advantage play in trade among member nations
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