(Answered) Industry x has a market demand curve given by the equation

Management Studies

Industry X has a market demand curve given by the equation P = 100 - Q/100, where P is the market price, and Q is industry-wide output.100 perfectly competitive firms currently operate in industry X. Each of these firms has a total cost function given by TC = 100 + 10q + q^2 , where q is the output of the individual firm, and thus MC = 10 + 2q. (a) Would any of the firms in industry X ever shut down in the short run? If so, what is the shut-down price required for firms to operate?

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