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Gnesinka [82]
4 years ago
5

Suppose that widgets are produced by a monopolistically competitive industry. If each firm in this market has the same cost stru

cture and charges the same price, then Q = S / n, Assume that the demand curve is such that b = 1 / 20.
The cost function for any given producer is given by:
TC = 3,000 + (4 x Q)
Suppose there are two countries Home and Foreign and Home has a market size SH = 2,400 widgets and Foreign has market size SF = 1,350 widgets. Assume that both countries have the same costs of production and demand curve.
a) Find the equilibrium number of firms and the equilibrium price and quantity in the long run for each country in the absence of trade.
Business
1 answer:
natulia [17]4 years ago
3 0

Answer:

The equilibrium number of firms is 20.

Explanation:

Q = SH × b

   = 2,400 × (1/20)

   = 2,400 × 0.05

   = 120

Also given, Q = S / n

                120 = 2,400 / n

                  n = 20

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Answer:

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Buyers' requests for product is called a demand.
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4 years ago
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$540,000

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Your aunt is about to retire, and she wants to buy an annuity that will supplement her income by $65,000 per year for 25 years,
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Solution:

Given

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FV                                              $0.00

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