Suppose that the market demand for a product is given by There are initially 10 identical firms each with a cost function given by c (q) = 225+ 12q+q². What is the long-run number of firms? 15 22 18 16 = 660-10P.

Suppose that the market demand for a product is given by There are initially 10 identical firms each with a cost function given by c (q) = 225+ 12q+q². What is the long-run number of firms? 15 22 18 16 = 660-10P.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

2 .

Suppose that the market demand for a product is given by Q =660-10P.
D
There are initially 10 identical firms each with a cost function given by c (q) = 225+12q+q².
What is the long-run number of firms?
O 15
22
18
O 16

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