Suppose you are given the following information about a particular industry: QD = 2200 - 100P Market demand QS = 1000P Market supply q? Firm total cost function C(q) = 616 + 400 29 MC(a) = 400 Firm marginal cost function. 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. The equilibrium price is $. (Enter your response rounded to two decimal places.)

Q: A business has found that it can sell 710 items if it sets its price to $61.38. However, if it…

A: Given: A business can sell 710 items if it sets the price to be $61.38. Can sell 880 items if it…

Q: 13. Devon's T-shirt business uses the demand function P= -Q+38 and the supply function P= Q - 6.…

A: Lower the price, higher the demand, hence, Q is price, P is number of T-shirts   Equations are,  P =…

Q: 2. The demand and supply functions for seats on a certain weekend bus route are given by Demand…

A: As per the rules, we can answer only 3 subparts, please post the remaining subparts as a separate…

Q: [1-j 1-j 1+j GIVEN: B= 2 j 1+j j j 1 FIND: DET B. A) 4 + 6 j B) -4+6j C) 4-6 j D) -4 - 6j E) NONE

A:

Q: A firm's demand function for a good is given by D: P= 100-2Q and their total cost function is given…

A: We solve the equation TC=QD by using quadratic formula to find the break even points of the firm.

Q: A business has found that it can sell 770 items if it sets its price to $66.61. However, if it…

A: Given: A business can sell 770 items if the price is $66.61. If the price is lowered to $41.4, then…

Q: 10. Economics: equilibrium point. Find the equilibrium point for these demand and supply functions:…

A: Consider the given: Demand,q=x−82, 0≤x≤8Supply,q=x2+x+13To find the equilibrium points, the quantity…

Q: 2) A firm is a monopoly for the good it produces. Its average variable cost function is AVC = q ²+4…

A:

Q: In a certain firm, the total production cost function and a demand function are given by the…

A:

Q: The supply equation for a new crop is given by p=2x+5 and the demand equation is given by p= -x + 11…

A: Given query is to find equilibrium price.

Q: The demand function for a good is given by the equation P = a − bQ while the total cost function is…

A:

Q: The demand curve for a product is given by q= 120, 000 – 500p and the supply curve is given by q=…

A:

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products. 

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.