Total amount of the good produced

Assignment Help Business Management
Reference no: EM131268462

Suppose there are n identical firms in a market.  Each firm's cost function is given by C = 648 + 8q2, where q is the amount that an individual firm produces.  This means that an individual firm's marginal cost is given by MC = 16q.  Also, the market demand is given by P = 306 - 3Q, where Q is the total amount of the good produced by all of the firms combined.  Therefore, Q = n*q. 

a) How much output will each firm produce?

b) What will be the market price?

c) How many firms will there be in long run equilibrium?

Reference no: EM131268462

Questions Cloud

Do you agree or disagree with these new realities : Your name (and if you have a preferred nickname), where you live, what type of work you do, and any prior knowledge or experience you may have related to the course content. Collins (2010) discussed four shifts that leaders need to make in order to b..
Providing a biographical overview of william e blackstone : Write a 6-8-page research paper providing a biographical overview of William E. Blackstone and a concise but thorough analysis of his role and impact on US foreign policy toward Middle East and toward Israel in particular.
Steps taken to develop social media plans : Imagine that you are the social media manager for a fictional company. You are tasked with preparing a presentation that explains your company’s strategic, functional, and operational social media plans to a recent new hire to your company’s marketin..
Difference in vertical integration-related diversification : What is the relationship among corporate, business and functional level strategies and how do they create value to the organization? What is the difference between vertical integration and related diversification?
Total amount of the good produced : Suppose there are n identical firms in a market.  Each firm's cost function is given by C = 648 + 8q2, where q is the amount that an individual firm produces.  This means that an individual firm's marginal cost is given by MC = 16q.  Also, the mar..
Write an equation that will give the number n : Write an equation that will give the number N of leukemic cells at the end of t days. - When, to the nearest day, will the mouse die?
Discuss market segmentaion techniques and strategies : Discuss the importance of the SWOT technique to marketing. Explain and discuss market segmentaion techniques and strategies. Explain and compare strategic and operational marketing decisions.
Where does the worker choose to work : Where does the worker choose to work? Suppose the government regulated the workplace and required all jobs to have a risk factor of 1/5 (that is, all jobs become A jobs). What wage would the worker now need to earn in the A job to be equally happy..
How many years will it take a population to double : The population of some countries has a relative growth rate of 3% (or more) per year.- At this rate, how many years (to the nearest tenth of a year) will it take a population to double?

Reviews

Write a Review

 

Business Management Questions & Answers

  Define and explain public policy

Choose any public policy that directly effects the local government in the area where your company is located. You should choose a policy that effect in some way the local government in the area where your work is located.

  Analyze evaluate and make strategic recommendations to

analyze evaluate and make strategic recommendations to improve a workplace case based on your own organizational

  How do risk-based deposit insurance premiums

How do risk-based deposit insurance premiums and risk-based capital requirements help reduce the moral hazard problem of deposit insurance? (Hint: Moral hazard means that because of deposit insurance, banks may take on excessive amounts of risk.)

  What is meant by selection

What is meant by ‘Selection'? Explain any five steps involved in the process of selection of employees.

  Explain why do some organizations choose not to expand

Given the advantages of international diversification, Explain why do some organizations choose not to expand internationally?

  Human resources primary research

What dispute resolution mechanisms does your company utilize when trying to resolve employee relation concerns?

  Explain a project consists of multiple phases

Explain A project consists of multiple phases and Which of the following is a valid statement and applies to each phase of the project?

  A component of the human resource system

Strategic compensation is a component of the human resource system. Organizations must determine the importance of many factors when choosing compensation and benefits. Write a three-to-five page essay (not including the title and reference pages) th..

  Explain how the business would benefit

Explain how the business would benefit from information created and knowledge kept in their information system.

  Identified the trending and possible ethical concerns

Now that you have identified the trending and possible ethical concerns for your business, it is time to hold an HR training meeting! This week you are going to create an "Internal Memo" that is going to be sent out to all employees and administra..

  Identify major competitors in the fast food industry

Identify 1 or 2 other major competitors in the fast-food industry, and describe their sources of competitive advantage.

  Qualitative and quantitative methods

You may not choose both qualitative and quantitative methods but you must discuss the advantages and disadvantages of both even if you do not use them.

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!

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