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The long-run average cost curve for a firm in an industry is: ATC = 10Q2 - 50Q + 100, and its marginal cost is: MC = 30Q2 - 100Q + 100. Market Demand is given by: Qd = 9000 - 200Pmkt

a) In the long-run equilibrium, how much will each firm produce?

b) What is the market equilibrium price?

c) What is the equilbrium number of firms in the market?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9689243

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