Each firm in a perfectly competetive market has a long-run total cost of LRTC = 100q – 10q + 100. The market demand is Q* = 2150 – 5P. At the long-run equilibrium price, how many firms will there be in the market? (a) 500 (b) 1,000 (c) 1,200 (d) 2,000 (e) 2,400

Each firm in a perfectly competetive market has a long-run total cost of LRTC = 100q – 10q + 100. The market demand is Q* = 2150 – 5P. At the long-run equilibrium price, how many firms will there be in the market? (a) 500 (b) 1,000 (c) 1,200 (d) 2,000 (e) 2,400

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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