Demand function is D(p) = 65-p. There are unknown number of firms with a total cost function C(q)= q^2 + q + 4 Find the supply of each firm Fund the total number of firms in the kong run Suppose demand drops to D(p)=62-q Find the price and number of firms in the short & long run

Q: Suppose that each firm in a competitive industry has the following costs: TC = 50+ q? Total Cost:…

A: Hi, thank you for the question. As per our Honor Code, we can attempt only the first three subparts…

Q: Please explain every part in details  A competitive firm has the following short-run cost function:…

A: A competitive firm is an economic unit that produces goods or services and competes in the market…

Q: QD(P) = 10,000 - 10P N number of firms follow: TC(Q) = 20,000 +0.5Q^2   How many long run firms…

A: In the long run perfectly competitive market earns normal profit due to free entry and exit and as…

Q: Price and cost (dollars) 70 60 50 40 30 20 10 0 MC₁ 50 Quantity MC₂ 100 Demand 150 The demand for…

A: The marginal cost is the change in the total cost that arises when the quantity produced is…

Q: The demand and total profit function, P(x) for rooms in a hotel are given as follows. 3x = 600 - P…

A: Marginal cost is the additional cost incurred by producing an additional unit of output.

Q: Suppose that the manager of a firm operating in a competitive market has estimated the firm's…

A: A competitive market is a market where there are numerous number of producers competing with one…

Q: The total revenue curve of a firm is R(q) = 40q – 12q² and its 400 average cost A(q) =9 – 12.85q +…

A:

Q: The short-run market demand and supply for Kente cloth are expressed as follows: Demand:P=40-0.25Q…

A: Given data: Demand: P=40-0.25QSupply: P=5+0.05QMarginal cost: -20+4Q

Q: A company determines that its demand function is given by p(q) = -0.8q + 1716 and that its cost…

A: Given, p(q) = -0.8q +1716 C(q) = 54.53q +4519 items produced = 814 need to calculate Marginal…

Q: 3. A firm's short-run total cost function is TC = 4q²-2q+7 he firm sells in a perfectly competitive…

A: The firm does not control over the price in the perfectly competitive market. The firm produces…

Q: demand curve faced by the firm is: P = 230 - 4Q where Q = Q1 + Q2 total cost equations for the two…

A: MC (marginal cost) is the cost incurred by the firm when an additional unit of a good is produced.…

Q: See the table below. At a long-run chosen output level of 500, which firm size (amount of capital)…

A: In economics, the short run refers to the time period during which at least one input such as…

Q: irm A works in a competitive market and earns 0 profit for the profit-maximizing quantity level.…

A: In the perfectly competitive market, firm produces where the P =MC. Zero economic profit implies…

Q: 14.The demand function for a new product is p(x) = - 2x + 7 , where p is the selling price of the…

A: Profit is the difference between total revenue and total cost. Total revenue is the product of price…

Q: Joshua owns a small boat and catches lobster off the coast of Maine. His weekly cost function is…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: SANUMARC produces fingerlings for sell. The quantity x (kg) of these fingerlings demanded each week…

A:

Q: The demand function for a firm is p = 320 – 3.2x, and the cost function is   C(x) = 100 + 80x –…

A: (i) Demand Function p = 320 - 3.2x Cost Function C(X) = 100 + 80x - 1.6x2 Profit = Revenue - Cost…

Q: A local microbrewery has total costs of production given by the equation TC=500+10q+5q^2. This…

A: Total cost equation,TC=500+10q+5q2Marginal cost equation, MC=10+10qDemand function, Qd=105-12P

Q: Consider a perfectly newspaper market with identical firms, each with the usual shaped cost curves.…

A: There are no monopolies in a free market paradigm. According to the theory of perfect competition,…

Q: If demand function is given by P = 40 - 2Q then what is the procedure to get marginal revnue ?

A: Given the demand function: Demand function, P = 40 - 2Q

Q: A firm has a linear demand function for it's product.When the price for the product is Sh.220,the…

A: At price of 220 and the quantity demanded is 40 units. At price of 240, the quantity demanded…

Q: A firm in a competitive industry has the following cost function: c(y) = y3/3-20y2 +310y. (Note that…

A: A cost function is a function of input costs and output amount whose value is the cost of making…

Q: A competitive firm has a total cost function: TC = 20 + 50q − 6q2 + q3  and a marginal cost function…

A:

Q: You sell items. Your marginal revenue and marginal cost are given by the formulas:  MR (q)=…

A: The firm would involve the cost of the production of the goods and services to produce goods and…

Q: A firm's demand function is Q = 16 – P and its total cost function is defined as TC = 3 + Q +…

A:

Q: Suppose that the cost of producing q appliances is C(q) = 500 – 4q + q? and the demand function is…

A: The term “profit” is defined as an excess of total revenue (TR) over the total cost (TC). The…

Q: Consider a competitive firm with a short-run cost function C(q) = 100q−q2 + 1/5q3 +450. (a)…

A: Answer to the three sub parts are as follows :

Q: We expect the marginal cost to increase as this firm produces more computers. But when the firm…

A: The rise or fall in the cost of producing/providing one more product is referred to as marginal…

Q: The total revenue curve of a firm is R(x) = 32·5x – 12x2 and its average cost A(x) =  x²  – 13x + 20…

A: It is given that                R(x) = 32.5x – 12x2          (Revenue Function)               A(x) =…

Q: Suppose an avocado farm has cost: C = 0.003q° + 25q + 1000 (where q is measured in bunches). The…

A: Given: The cost of a farm is: C = 0.003q3 + 25q + 1,000 The market price per bushel of avocados is =…

Q: Suppose firm A’s total cost function is given by c(q) = 3q^2 + 95. If the equilibrium price is $24,…

A: The firms and businesses tend to operate in the market with the motive of earning high amount of…

Q: Exercise 3 A firm has a long-run cost function Cl(y) = y 3 − 10y 2 + 30y. (1) Derive the firm’s…

A: Long-run costs refer to the expenses incurred by a firm when all inputs or factors of production are…

Q: Given the following demand and cost functions: Demand: p = 3000 - 2x Cost: C = 1200x + 2600 Find the…

A: Profit is the difference between revenue and cost.  Revenue is the price multiply quantity…

Q: what is the ordered pair ?

A: The break even point in any business is where your revenue is just equal to your expenses. The cost…

Q: The cost function of competitive firm is TC = 20 + 5Q2. The product's market price is 30 AZN. Please…

A: Let Q is unit of output produced. Product price is 30 per unit.  ----------------- Total revenue =…

Q: 1. Assuming that the company sells all that it produces, what is the profit function? P(z) = Hint:…

A: Note: The question has more than three sub parts. We shall solve the first three sub parts at a…

Q: The graph below shows the marginal cost (MC), average variable cost (AVC), and average total cost…

A: We can see that one of the axis we see the cost and profit is given, the verticle axis.Here, the…

Q: The market for drones is perfectly competitive. Assume for simplicity that fractions of everything,…

A: Under perfect competition, an individual firm is a price taker in the market. All firms sell a…

Q: A firm's profit function is (q) = R(q)-C(q)=100q- (190+40q+10q²). What is the positive output level…

A: A firm maximizes profit by producing output at a level where the Marginal Revenue (MR) is equal to…