1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
evablogger [386]
3 years ago
12

Each firm in a competitive market has a cost function​ of: Upper C equals 25 plus q squared​, so its marginal cost function is M

C equals 2 q. The market demand function is Upper Q equals 35 minus p. Determine the​ long-run equilibrium​ price, quantity per​ firm, market​ quantity, and number of firms.
Business
1 answer:
Effectus [21]3 years ago
3 0

Answer and Explanation:

The computation is shown below:

TC = 25 + q^2

Now

Marginal cost is

= dtc ÷ dQ

= 2q

Average variable cost  (AVC) = q

We Assuming perfect competition so there is a free entry so no profits

Therefore

ATC = P

ATC = TC ÷ q  

= q + 25 ÷ q

Now

MC = MR = P = ATC

2q = q + 25 ÷ q

q = 25 ÷ q

q^2 = 25

So, Quantity per firm = q = 5

Now

P = MC = MR = ATC

= q + 25 ÷ q  

= 5 + 25 ÷ 5  

= 5 + 5

= 10

hence, equilibrium price is 10

Now

Q = 35 - P  

= 35 – 10

= 25

Hence, Market quantity (Q)  = 25

And, the number of firms i.e n

N = Q ÷ q  

= 25 ÷ 5

= 5

You might be interested in
Madison Finance has a total of $20 million earmarked for homeowner loans and auto loans, where x is homeowner loans in millions
Deffense [45]

Answer:

Ans. Car loans must be $4,000,000 and Home loans $16,000,000 in order to use all the conditions in the problem. Return= $2,000,000

Explanation:

Hi, well, you need to make sure to get as many car loans as the conditions of the problem allows you, since it returns 14%.

I used MS Excel solver to find this result, please download the excel spreadsheet attached to this answer.

Best of luck.

Download xlsx
7 0
3 years ago
Pogisa is a director at trendz corp. after studying and consulting with experts, pogisa votes to have trendz sell a tract of lan
Alenkasestr [34]

She may be entitled to protection under the <u>Business Judgement Rule</u>, which is a doctrine that courts generally defer to the business decisions of company executives when the decisions were in good faith.  

4 0
3 years ago
After a third complaint about how her company was handling customer service requests, catalina developed a code of ethics to spe
Arisa [49]

The code of ethics which Catalina developed is supposed to spell out how her staff will interact with customers, fellow employees, and members of the general public.

<h3>What is the purpose of a Code of Ethics?</h3>

The Code of ethics is an organizational blueprint that spells out the behavior of staff or employees which when followed to the letter ensures, that the image or the organization is associated with the highest levels of:

  • Professionalism
  • Integrity and
  • Honesty,

These help to increase brand equity.

Please see the link below for more about the Code of Ethics:

brainly.com/question/11634495

6 0
2 years ago
a list of accounts and their balances after all adjustments have been made and posted to the general ledger is known as the g
s2008m [1.1K]

Answer:

Adjusted trial balance

Explanation:

8 0
3 years ago
Liability insurance is...
Scrat [10]

Answer:

Liability insurance is a part of the general insurance system of risk financing to protect the purchaser from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.

Explanation:

8 0
3 years ago
Read 2 more answers
Other questions:
  • How do entrepreneurs contribute to the nation socially
    6·1 answer
  • You want to have $60,000 in your savings account 12 years from now, and you’re prepared to make equal annual deposits into the a
    7·1 answer
  • Assume Nortel Networks contracted to provide a customer with Internet infrastructure for $2,650,000. The project began in 2021 a
    11·1 answer
  • Under former CEO Kalanick, when Uber entered into a new market, it often disregarded local laws and allowed its drivers to begin
    5·1 answer
  • Human capital is:________
    7·1 answer
  • What is the cost of goods sold given the following information? Beginning Work in Process 125,000 Beginning Finished Goods 78,00
    14·1 answer
  • Imagine not accepting my points what's the matter with you
    9·2 answers
  • On December 31, 2017, Turnball Associates owned the following securities, held as a long-term investment.
    7·1 answer
  • Revision of Depreciation
    9·1 answer
  • Settings in which development occurs, which are influenced by historical, economic, social, and cultural factors, are called ___
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!