Solve e) Question 4TC = 100 + 20q + q²MC = 20 + 2qa) Is this firm operating in short or long run? How do you know?b) If the price is $100 how much should each firm produce?c) If the price is $100 what is the equilibrium profit of the firm?d) If the price is $100 & there are 1,000 firms in the industry what is the total aggregateequilibrium production and sale in the industry?e) If the price is $100 what will happen in the long run in this industry?

Note :Since there are multiple sub parts of the question , the first three sub parts shall be…

Question 4 TC = 100 + 20q + q² MC = 20 + 2q a) Is this firm operating in short or long run? How do you know? b) If the price is $100 how much should each firm produce? c) If the price is $100 what is the equilibrium profit of the firm?

Question 4 TC = 100 + 20q + q² MC = 20 + 2q a) Is this firm operating in short or long run? How do you know? b) If the price is $100 how much should each firm produce? c) If the price is $100 what is the equilibrium profit of the firm?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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