Econ Micro (book Only)
6th Edition
ISBN: 9781337408066
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 9, Problem 6P
To determine
The reasons for worse performance of the society under
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COURSE: MICROECONOMICS - PERFECT COMPETITION AND MONOPOLY (RESUBMITION QUESTION)
We appreciate a perfect competition market where there is a predetermined limit number of firms with 20 total firms.Each has the cost function such that: CTi = qi2 + 4qi + 3 where qi indicates numbers of firms (i = 20)
The demand in the market is: Q = 100 - 4pa) What is the individual supply of each firm?b) What is the supply of the whole industry?c) Obtain the market equilibriumIn the case where a new firm intended to enter a monopolist's market:(a) What kind of legitimate entry barriers can the firm face understanding the nature of the market it wishes to enter?b) What type of anticompetitive barriers could the firm already in the market present?
University Advancd Microeonomics, Theory of Production, Non-Essay question
1) Complete the table.
Price
Quantity Total Marginal Fixed
Demanded Revenue Revenue Cost
18
600
17
700
16
800
15
900
14
1000
13
1100
12
1200
500
500
500
500
500
500
500
Variable Total
Cost
Cost
5210
5640
6135
6700
7335
8060
8900
Average
Variable Marginal
Cost
Cost
MR - MC
Profit
Percent
Contribution
Margin
Chapter 9 Solutions
Econ Micro (book Only)
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