Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
In the city of Gelato the market for ice cream is perfectly competitive. Aggregate demand for ice cream is:
D(p) = 1200-25p
where p is the price for one cone of ice cream. All ice cream producers in the city have the same total cost function:
C(qi) =10qi
where qi represents the number of ice cream cones firm i produces. Assume that the market is in equilibrium.
a) Derive the firms' marginal and average cost.
b) Compute price and quantity in equilibrium.
Assume that there are 50 firms present in the market.
c) Calculate the number of ice cream cones that each firm produces. Will they produce the same quantity? Why (not)?
d) In general, is it possible that a firm in a perfectly competitive market produces at a price greater than its average cost?
#questioSuppose the US and Mexico both produce semiconductors and auto parts and the US has a comparative advantage in semiconductors while Mexico has a comparative advantage in au
Given that TC=1000+10Q-0.9Q^2+0.04Q^3,,Find the rate of output Q that result in minimum Average variable cost
COMBINED FINANCES OF UNION AND STATES: Taxes on goods and services are levied in India in various forms and at different levels of Government, Centre, states, and local bodies
The definition of a price maker is states as “firm with some power to set the price bcoz the demand curve for its output slopes downward”, that in effect, mean those firms with a d
Allocative Efficiency The production of products and services such that stages of production are closely tied to levels of customer demand.
income=100 price of x=5 price of x2=10 find consumer equilibrium with diagram
what is mrs
brife note on demand
Ali Pizza’s production function is shown in the table above. Ali currently operates Plant2. He hires workers at a wage rate of $50 a day and his total fixed cost is $150. a) Calcul
How would you construct an estimate of marginal cost, & ?C(w, y) , in each period? ?Y
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd