QD=11200-100P QS= = 1500P C(q)=761 + q² 200 2q 200 Market demand Market supply Firm total cost function Firm marginal cost function. MC(q)= Assume that all firms are identical and that the market is characterized by perfect competition. Find the equilibrium price, the equilibrium quantity, the output supplied by the firm, and the profit of each firm. (Enter your response rounded to two decimal places.) The equilibrium price is $

QD=11200-100P QS= = 1500P C(q)=761 + q² 200 2q 200 Market demand Market supply Firm total cost function Firm marginal cost function. MC(q)= Assume that all firms are identical and that the market is characterized by perfect competition. Find the equilibrium price, the equilibrium quantity, the output supplied by the firm, and the profit of each firm. (Enter your response rounded to two decimal places.) The equilibrium price is $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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