29. Consider a perfectly competitive industry in which each firm has the total cost function tc = q - 6q +13q, where q is the quantity of output produced by the firm. Each firm has the marginal cost function mc = 3q? – 12q + 13. Suppose the demand curve for the industry's total output is P = 64 – .1Q, where P is price and Q is the industry's total output. In equilibrium, the number of firms in the industry is %3D -

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29. Consider a perfectly competitive industry in which each firm has the total
cost function tc = q° – 6q² + 13q, where q is the quantity of output produced
by the firm. Each firm has the marginal cost function mc =
Suppose the demand curve for the industry's total output is P = 64 – .1Q,
where P is price and Q is the industry's total output. In equilibrium, the
number of firms in the industry is
3q2 – 12q + 13.
-
Transcribed Image Text:29. Consider a perfectly competitive industry in which each firm has the total cost function tc = q° – 6q² + 13q, where q is the quantity of output produced by the firm. Each firm has the marginal cost function mc = Suppose the demand curve for the industry's total output is P = 64 – .1Q, where P is price and Q is the industry's total output. In equilibrium, the number of firms in the industry is 3q2 – 12q + 13. -
(а) 100
(b) 200
(с) 150
(d) 125
(е) 175
Transcribed Image Text:(а) 100 (b) 200 (с) 150 (d) 125 (е) 175
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