long expressed by: (1) TC = 150q: -18q? + q where qi is the firm's output. AC Price Qty. Qty. Firm Industry What output will the firm produce in the long run? What is the firm's long run per unit cost? What is the optimal size for the firm? Assuming free entry and exit from the industry and if the industry market demand curve is given by P. = 4600 – 2 Q What will be the long run equilibrium, specifically () industry price $. (ii) industry output (:) nu mbor o f firma in the inductNYE

long expressed by: (1) TC = 150q: -18q? + q where qi is the firm's output. AC Price Qty. Qty. Firm Industry What output will the firm produce in the long run? What is the firm's long run per unit cost? What is the optimal size for the firm? Assuming free entry and exit from the industry and if the industry market demand curve is given by P. = 4600 – 2 Q What will be the long run equilibrium, specifically () industry price $. (ii) industry output (:) nu mbor o f firma in the inductNYE

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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