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Demand for coffee is given by Qd = 150000-15000p, where p is the market price. The market for coffee is perfectly competitive. Each firm has access to the same technology which yields a marginal cost curve given by MC (q) =q/2000, where q is the quantity supplied by an individual firm. There are initially 60 firms supplying coffee. a) What is the market supply curve? b) What are the short-run equilibrium price and quantity in the market? How much tea does each individual firm supply? c) Each firms average cost curve achieves its minimum point when it produces q = 1000. In the long-run equilibrium, what are the market price and quantity? How many firms are there in the long run?
the gpi bookstore orders sweaters with the gpi logo on them and sells them for 40 a piece. during a typical month 80
discuss the implications of varying price and income elasticities for the bundling or unbundling of consumer services
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In an effort to stop the migration of many of the automobile manufacturing facilities from the Detroit area, Detroit's city council is considering passing a statute that would give investment tax credits to auto manufacturers. Effecively, this wou..
alpha and beta companies can borrow at the following
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