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"]
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
i need this in words
not handwritten
Just Rewrite it
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
=](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbd00486b-cd80-44b0-af61-ec124753c61e%2F1e4006d4-62aa-4ee1-aecc-7bb2ca8c8c99%2F8gffao8_processed.jpeg&w=3840&q=75)
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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