Assume all firms in the golf-cart market have LRAC = 48 - 8q + 2q4, (this is average, not total cost) all firms are currently producing 4 golf carts. The golf cart market is PERFECTLY COMPETITIVE. 1. If firms are currently producing 4, the current price must be 2. The long-run pice of golf carts will be
Assume all firms in the golf-cart market have LRAC = 48 - 8q + 2q4, (this is average, not total cost) all firms are currently producing 4 golf carts. The golf cart market is PERFECTLY COMPETITIVE. 1. If firms are currently producing 4, the current price must be 2. The long-run pice of golf carts will be
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter8: Perfect Competition
Section: Chapter Questions
Problem 1SCQ: Firms ill a perfectly competitive market are said to be price takers that is, once the market...
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![问题2
2分
FOR THIS QUESTION ENTER NUMERALS (e.g. 1, not "one"). DO NOT INCLUDE ANY SYMBOLS
SUCH AS $ or.
Assume all fırms in the golf-cart market have LRAC = 48 - 8q + 2q2, (this is average, not total cost)
all firms are currently producing 4 golf carts. The golf cart market is PERFECTLY COMPETITIVE.
1. If firms are currently producing 4, the current price must be
2. The long-run pice of golf carts will be](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F16f2c40b-3901-47df-825c-c4ccba7eac9a%2F5bf29d64-7c9b-4fab-8978-4fdec4ae16ab%2Fh7y6qp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:问题2
2分
FOR THIS QUESTION ENTER NUMERALS (e.g. 1, not "one"). DO NOT INCLUDE ANY SYMBOLS
SUCH AS $ or.
Assume all fırms in the golf-cart market have LRAC = 48 - 8q + 2q2, (this is average, not total cost)
all firms are currently producing 4 golf carts. The golf cart market is PERFECTLY COMPETITIVE.
1. If firms are currently producing 4, the current price must be
2. The long-run pice of golf carts will be
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