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?
Why is the goal of stability and security important to many people? What problems typically emerge during periods of instability? The instability over the business cycle can b
How is the foreign exchange rate determined
A competitive firm produces output using three fixed factors and one variable factor. The firm’s short-run production function is q = 154x – 5x2, where x is the amount of variable
williomson''s model of managerial discretion
The sole producer of the anti-diarrhea drug STOP supplies two retail pharmacies in an isolated village. The two pharmacies compete à la Cournot in a market characterized by an inve
Andrew has preference given by: u(x,y) = min{2x, 3y} The price for good x and good y are identical and equal to 4. At his optimal consumption bundle he achieves a utility of 90. W
explain how scarcity impacts choice 2.expain the three steps process in economic analysis
whit is mean super normal profit
determination of interests rates in classical system
With the aid of a diagram explain the long run average cost curve and the influences upon it.
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