Suppose a firm’s total cost is given by TC = 650+20Q+4Q2, an…
Suppose a firm’s total cost is given by TC = 650+20Q+4Q2, and its marginal cost is given by MC = 20+8Q. It operates in a perfectly competitive market where the price per unit of output is $100. What value of Q maximizes the firm’s profits?
Read DetailsIn a perfectly competitive industry, the equilibrium price i…
In a perfectly competitive industry, the equilibrium price is $15, and the minimum average total cost of the industry’s firms is $20. If this is a constant-cost industry, we can expect that in the long run, firms will ___ the market, shifting the industry’s short-run supply curve ___.
Read DetailsEx A. Nouns and articles. 24 pts. 3 pts per item (1 pt for…
Ex A. Nouns and articles. 24 pts. 3 pts per item (1 pt for article, 2 pts for answer) Complete each question with the appropriate article (un, une, des, le, la, l’, les, de or d’) and then answer the question. Exemple : Comment est l’université? Elle est grande.
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