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3. There is a Competitive Industry '8= Each firm i's: Cast of Production C (8) = 10 + 10 g; ² Market Demand; 2 Bi - (a) n = 20 firms. There are Industry. the PRO i, Quantity produced by feier i. which tevenly ferius en is the short Roan Marginal Cost function Since the Supply Curve of a ferm SMC; = dCi 200i. doi :: funi Short - Run Supply function of is 208;! шие the ferms each finding out the market Supply Curve horixentally add the SMC Culues of all Judustry. 22/2/2018 1 S = n(208) S = 4008. [Market Suffly function"]

3. There is a Competitive Industry '8= Each firm i's: Cast of Production C (8) = 10 + 10 g; ² Market Demand; 2 Bi - (a) n = 20 firms. There are Industry. the PRO i, Quantity produced by feier i. which tevenly ferius en is the short Roan Marginal Cost function Since the Supply Curve of a ferm SMC; = dCi 200i. doi :: funi Short - Run Supply function of is 208;! шие the ferms each finding out the market Supply Curve horixentally add the SMC Culues of all Judustry. 22/2/2018 1 S = n(208) S = 4008. [Market Suffly function"]

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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PRESEN for finding out the market Equilibriem gd - gs 80-P = P 400 ⇒ 80 = P + P 400 ⇒ 80 = 401 P. 400 :. p*= 79.8~ Rs. 80. Quanty (8 * )= 80-P = 0 veuils - OR 8* = 80- 79.8 -0.2 mils. 2 ⇒ P = 80x400 401 Total Quautily sold = 0.2 windli • Quantity sold by each firm (91) · 0.2 =0.01 wint 20 ci X₁ = P*9; - Ci X; 지 Xi - (79.8 x 0.01) - (10 + 10x (0.01)²) Xi 0.798 - 10.001. - -9.203. Jucu losses Hence we that faims eamh 'o' seeppose that such
Transcribed Image Text:PRESEN for finding out the market Equilibriem gd - gs 80-P = P 400 ⇒ 80 = P + P 400 ⇒ 80 = 401 P. 400 :. p*= 79.8~ Rs. 80. Quanty (8 * )= 80-P = 0 veuils - OR 8* = 80- 79.8 -0.2 mils. 2 ⇒ P = 80x400 401 Total Quautily sold = 0.2 windli • Quantity sold by each firm (91) · 0.2 =0.01 wint 20 ci X₁ = P*9; - Ci X; 지 Xi - (79.8 x 0.01) - (10 + 10x (0.01)²) Xi 0.798 - 10.001. - -9.203. Jucu losses Hence we that faims eamh 'o' seeppose that such
There is a Competitive Industry '8= Each firm i's: Cast of Production C (8) = 10 + 10 g; ² Market Demand; 2 3. Bi - (a) n = 20 firent. There are Industry. the Quantity produced by ferier i. which twenty ferius en is the short Roan Marginal Cost function Since the Supply Curve of a ferm SMC; = dCi 200i. doi Short - Run Supply function of is 208;! :: feui finding out the market Supply Curve horixentally add the SMC Culues of all Judustry. 22/12 2081 S = 400 §. [Market Suffly function"] we the ferms S = n(208) each =
Transcribed Image Text:There is a Competitive Industry '8= Each firm i's: Cast of Production C (8) = 10 + 10 g; ² Market Demand; 2 3. Bi - (a) n = 20 firent. There are Industry. the Quantity produced by ferier i. which twenty ferius en is the short Roan Marginal Cost function Since the Supply Curve of a ferm SMC; = dCi 200i. doi Short - Run Supply function of is 208;! :: feui finding out the market Supply Curve horixentally add the SMC Culues of all Judustry. 22/12 2081 S = 400 §. [Market Suffly function"] we the ferms S = n(208) each =
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