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juin [17]
3 years ago
6

Suppose that for each firm in the competitive market for potatoes, long-run average cost is minimized at $0.6 per pound when 150

pounds are grown. The demand for potatoes is Q = 40,000/p. If the long-run supply curve is horizontal, then what would be the total consumer spending?
Mathematics
1 answer:
mihalych1998 [28]3 years ago
6 0

Answer:

Total consumer spending is 160

Step-by-step explanation:

Here , we are interested in calculating the total consumer spending.

In a long run perfect competition market, price interest with MC and minimum point of AC

Hence , P = AC

this means that Q = 40,000/P = 40,000/150 = 266.67 which is approximately 267 potatoes will be consumed

The total consumer spending is thus 267 * 0.6 = 160

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Answer:

7m = 50.75

Step-by-step explanation:

5m=36.25

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Which of the following algebraic steps will solve the equation 5p= -35 and what is the solution
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two trains leave the station at the same time one heading west and the other East the westbound train travels at 55 miles per ho
Diano4ka-milaya [45]
Recall your d = rt, distance = rate * time

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now, let's say, since by "t" hours they've covered 338 altogether, so, if the westbound train has covered say "d" miles, then the eastbound train would have covered the slack from 338 and d, that is, "338 - d".

\bf \begin{array}{lccclll}
&\stackrel{miles}{distance}&\stackrel{mph}{rate}&\stackrel{hours}{time}\\
&------&------&------\\
Westbound&d&55&t\\
Eastbound&338-d&75&t
\end{array}
\\\\\\
\begin{cases}
\boxed{d}=55t\\
338-d=75t\\
----------\\
338-\boxed{55t}=75t
\end{cases}
\\\\\\
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What is 12.125 as a fraction 
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12 \frac{1}{8}
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