Assume that the market for car washing is perfectly competitive. If a single firm washes 27 cars per week, and there are 100identical firms in the market, how many cars are getting washed weekly?O a. 5400O b. 2700O c. it is impossible to say anything about the market output based on information about single firms.O d. 3240O e. less than 2700 because demand slopes down.

Given the number of firms = 100 A single firm washes cars in a week = 27

Assume that the market for car washing is perfectly competitive. If a single firm washes 27 cars per week, a identical firms in the market, how many cars are getting washed weekly? a. 5400 O b. 2700 O c. it is impossible to say anything about the market output based on information about single firms. O d. 3240 e. less than 2700 because demand slopes down.

Assume that the market for car washing is perfectly competitive. If a single firm washes 27 cars per week, a identical firms in the market, how many cars are getting washed weekly? a. 5400 O b. 2700 O c. it is impossible to say anything about the market output based on information about single firms. O d. 3240 e. less than 2700 because demand slopes down.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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