I need urgently solutions of D,E,F 2. In a perfectly competitive and constant cost industry, all firms are identical. Ifthe market demand function is: Qº = 100 – P, a typical firm's cost function10q – 4q² + q³.In the long run, what is the typical firm's supply curve/function?b. In the long run, what is the market equilibrium price and quantity?In the long run, what is the whole industry’s long run supplyis: TC =-а.с.curve/function?d. In the long run, how much would the typical firm supply? How manyfirms will stay in this industry?e. If the government decide to impose a per-unit tax of $4, what is the newlong run equilibrium market price and quantityf. How many firms are still producing after the tax?

Demand function: Q = 100 - P Total Cost: TC = 10q - 4q2 + q3

2. In a perfectly competitive and constant cost industry, all firms are identical. If the market demand function is: QD = 100 – P, a typical firm's cost function is: TC 10q - 4q? + q³. a. In the long run, what is the typical firm's supply curve/function? b. In the long run, what is the market equilibrium price and quantity? c. In the long run, what is the whole industry’s long run supply curve/function? d. In the long run, how much would the typical firm supply? How firms will stay in this industry? many e. If the government decide to impose a per-unit tax of $4, what is the new long run equilibrium market price and quantity f. How many firms are still producing after the tax?

2. In a perfectly competitive and constant cost industry, all firms are identical. If the market demand function is: QD = 100 – P, a typical firm's cost function is: TC 10q - 4q? + q³. a. In the long run, what is the typical firm's supply curve/function? b. In the long run, what is the market equilibrium price and quantity? c. In the long run, what is the whole industry’s long run supply curve/function? d. In the long run, how much would the typical firm supply? How firms will stay in this industry? many e. If the government decide to impose a per-unit tax of $4, what is the new long run equilibrium market price and quantity f. How many firms are still producing after the tax?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

I need urgently solutions of D,E,F

2. In a perfectly competitive and constant cost industry, all firms are identical. If
the market demand function is: Qº = 100 – P, a typical firm's cost function
10q – 4q² + q³.
In the long run, what is the typical firm's supply curve/function?
b. In the long run, what is the market equilibrium price and quantity?
In the long run, what is the whole industry’s long run supply
is: TC =
-
а.
с.
curve/function?
d. In the long run, how much would the typical firm supply? How many
firms will stay in this industry?
e. If the government decide to impose a per-unit tax of $4, what is the new
long run equilibrium market price and quantity
f. How many firms are still producing after the tax?

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