Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics


Home >> Microeconomics

3. (20 total points) Suppose in the short run a perfectly competitive firm has variable cost = 4q2, and MC = 8q where q is the quantity of output produced. Also, the firm has fixed cost F = 144.

Suppose the market demand is given by P = 336 - 3Q where Q is the market quantity produced by all the firms. Assume there are n identical firms in the market. So Q = q*n. Find n (the number of firms).

n = 16

Can anybody explain why n=16?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91261117

Have any Question?


Related Questions in Microeconomics

Question 1 suggest two regulations that the reserve bank of

Question: 1. Suggest two regulations that the Reserve Bank of New Zealand could introduce to reduce the risk of asset price bubbles in the future. 2. Write a note on the prospects for economic growth in New Zealand for t ...

Question consumption in the us burst upward for a period of

Question: Consumption in the U.S. burst upward for a period of time immediately after the election of Bill Clinton to the Presidency, despite no major changes in disposable income. Explain what could have caused this eve ...

The wheat market has the following supply and demand

The wheat market has the following supply and demand functions: QD = 98 - 4Pw+ 0.2I QS = -6 +4Pw-2Pc-Pf Where Pw is the price of wheat (per bushel), Q is the quantity of wheat in bushels, I is the average consumer's dail ...

Question if your instructor is an agent who is are the

Question: If your instructor is an agent, who is (are) the principal(s)? Do not say "the university," because there is no such identifiable individual. If you think it is the students, explain why. If not the students, w ...

Question suppose you are the manager of a chain of computer

Question: Suppose you are the manager of a chain of computer stores. For obvious reasons you have been closely following developments in the computer industry, you have just learned that the government has passed a two-p ...

Question housing bubblebecause of the hosing bubble many

Question: Housing Bubble "Because of the hosing bubble, many houses are now selling for much less than their selling price just two to three years ago. There is evidence that homeowners with virtually identical houses te ...

Question consider the heckscher-ohlin model from the slides

Question: Consider the Heckscher-Ohlin model from the slides in the case of no factor substitution. The production technology of food and cloth are: QF = min [LF/3 , KF] QC = min [KC/3 , LC]. The home country has 100 uni ...

Question is there a gender gap in public relations why does

Question: Is there a gender gap in public relations? Why does the field attract more women than men? How does each gender perceive careers in public relations? Focus groups with majors at three universities provided some ...

Question what determines a competitive firms demand for

Question: What determines a competitive firm's demand for labor? How does labor supply depend on the wage? What other factors affect labor supply? How do various events affect the equilibrium wage and employment of labor ...

Question electric utilities in california often make

Question: Electric utilities in California often make exchanges of power with utilities in the Pacific Northwest because their time patterns of consumption differ. California peaks in summer to meet air conditioning load ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved