How many firms will exist in the industry in the long run

Assignment Help Econometrics
Reference no: EM13221876

There are 80 firms in the industry. The cost function of individual firm is T? = 100 + 4q + 4q2. Demand function is Q = 1040 - 10P. Find the equilibrium price and quantity for the short-run. How many firms will exist in this industry in the long run if there are no entry barriers?

Reference no: EM13221876

Questions Cloud

Find if there dominant and dominated strategies : Firm 1 and firm 2 are movie producers. Each has the option of producing a blockbuster romance or a blockbuster suspense film. The payoff matrix displaying the payoffs for each of the four possible strategy combinations.
Define the anomalous behavior of water when it freezes : explain the anomalous behavior of water when it freezes. That is, why is there water axpansion upon solidification
Find the probability that the mailed item was an ad : Find the probability that the mailed item was First Class or it went to a home.Find the probability that the mailed item was an Ad.
What does bagelz have to do to support franchisees : What does Bagelz have to do to support franchisees and what does a franchisee bring to the relationship with Bagelz?
How many firms will exist in the industry in the long run : There are 80 firms in the industry. The cost function of individual firm is T = 100 + 4q + 4q2. Demand function is Q = 1040 - 10P. Find the equilibrium price and quantity for the short-run. How many firms will exist in this industry in the long ru..
Define the directions state weigh of sodium chloride : The directions state "weigh about 5 grams of sodium chloride". Give minimum and maximum amounts of sodium chloride that would satisfy these instructions.
What is the elasticity of the demand for cookbooks : You are starting your own Internet business. You decide to form a company that will sell cookbooks online. Justcookbooks.com is scheduled to launch 6 months from today. You estimate that the annual cost of this business will be as follows: Technol..
Compute the enthalpy change per mole for the process : Calculate the enthalpy change per mole for this process. ( Assuming C=4.18 J deg c^-1 g^-1 and density of the final solution is 1.00g/ml).
Compute the monthly salary payoff table : For this payoff table find Jim's optimal decision using: (1) the conservative approach, (2) minimax regret approach and (3) the optimistic approach.

Reviews

Write a Review

Econometrics Questions & Answers

  Calculate what is the loss in consumer surplus

a. if televisions are sold in a perfectly competitive market, calculate the annual number sold. under what conditions will the market equilibrium be economically efficient b. suppose tv sets are banned. calculate the loss in consumer surplus as a r..

  Compute the annual income you will receive during retirement

Assume that savings are invested at the end of each calendar year. Assume that during your working life you earn a return of 8% per year, and that when you retire at age 65 you move your assets into more conservative investments and earn a return ..

  How many units will the firm produce in the short-run

Given below are the cost schedules for a perfectly competitive firm. Average Average Variable Total Marginal Quantity Cost Cost Cost 1 $ 50 $ 90 $ 50 2 45 65 40 3 40 53 30 4 35 45 20 5 34 42 30 6 35 41 40 7 37 43 50 8 40 45 60

  Calculate a trend line and forecast sales for 2008

a. Calculate a trend line and forecast sales for 2008. How confident are you of this forecast . Use exponential smoothing with a smoothing factor w=0.7. What is your 2008 forecast How confident are you of this forecast1998 200 2003 302 1999 215 2004 ..

  State and explain 5pieces of information of living standard

A. Ireland is a very small open economy. Trace the likely economic consequences if the government used an expansionary fiscal policy to stimulate the economy. B. GNP at Current Market Prices for 2007 was 60% higher than the figure for 2000. State a..

  What is the marginal rate of substitution at the optimum

Show a consumers budget constraint and indifferance curves for wine and cheese. Show the optimal consumption choice. If the price of wine is 3$ per glass and the price of cheese is $6 per pound, what is the marginal rate of substitution at the opt..

  Illustrate an initial equilibrium for the consumer

Suppose a consumer has an income of $1000 and faces prices Px = $5 and Py = $10. (a). Write the equation for this consumer's budget constraint. (b). Draw the budget constraint, placing Good X on the horizontal axis. Label it BC.

  Determine what is the inverse demand function

Where Qd denotes quantity demanded, P denotes price, Y denotes personal income (in thousands of dollars), and A denotes advertising expenditures in hundreds of dollars. ABC's marginal cost function is given as MC = 21 + 4Q Assume Y equals 3

  What is the deadweight loss of the price ceiling

The market for college hockey players is characterized by the following supply and demand curves, where Q is the number of athletes and P is the weekly wage in excess of their scholarship payments QD = 1600 - 20P, QS = -900 + 30P

  Explain could both methods be technically efficient

One farmer can grow 1,500 bushels of corn on 2 acre of land with 300 hours of labor and 25 pounds of seed. Another farmer can grow 1,500 bushels of corn on 1 acre of land with 200 hours of labor and 25 pounds of seed.

  What would the cash flow diagram look like

If an alternative has an advance payment of $100,000 upon contract award and then quarterly payments of $25,000 for the next 3 years, what would the cash flow diagram look like

  Explain problems of adverse selection in rural credit market

Suppose instead that you (the lender) have no information on the type of borrower and you have to charge a single interest rate to all borrowers. Also assume that the probability that you will end up with each type of borrower is equal (e.g. 1/3 ..

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