29. Consider a perfectly competitive industry in which each firm has the totalcost function tc = q° – 6q² + 13q, where q is the quantity of output producedby 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, thenumber of firms in the industry is3q2 – 12q + 13.- (а) 100(b) 200(с) 150(d) 125(е) 175

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 -

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 -

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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