Suppose that there are 40 firms in a market, each with the following cost function: C(q) = 42 +5q². Suppose the market demand is D(p) = 1 340 - 38p How much profit does each firm make in the short-run equilibrium? Answer is: 8.90 Can you show me how to get this?
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Hh.95.
![Suppose that there are 40 firms in a market, each with the following cost function:
C(q) = 42 +5q².
Suppose the market demand is
D(p) = 1 340 - 38p
How much profit does each firm make in the short-run equilibrium?
Answer is: 8.90
Can you show me how to get this?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F146ba547-3393-4257-a101-1e7cee66946f%2Fce112c3a-4f14-4445-9b83-fa8183678bfb%2Fzi0b02qb_processed.jpeg&w=3840&q=75)
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