What is the long-run equilibrium price in this industry?, Ask an Expert

Economics

The cheese business in Taranaki is a competitive industry. All cheese manufacturers have the cost function C = Q2 + 9, while demand for cheese in the region is given by Qd = 120 - P.

What is the long-run equilibrium price in this industry?

What is the long-run equilibrium quantity in this industry?

What is the long-run equilibrium number of firms in this industry?

View complete question

Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M967012

Have any Question?Write your Review or question?

Related Questions in Macroeconomics

Question - suppose that coca-cola is currently paying a

Question - Suppose that Coca-Cola is currently paying a dividend of $2.74 per share, the dividend is expected to grow at a rate of 4% per year, and the rate of return investors require to buy Coca-Cola's stock is 10%. Ca ...

Question - the question about african economyin no more

Question - The question about African Economy In no more than about half a page to a page each, answer the following questions: What are your preconceptions of Africa? When you think of Africa, what comes to mind? Be spe ...

Question the competitive nature of the market influences

Question: The Competitive nature of the market influences labor markets outcomes. A. Explain and show graphically why a firm with monopoly power hires less labor than if it sold its output in a competitive market. B. Exp ...

Question janes juice bar has the following cost schedules

Question: Jane's juice bar has the following cost schedules: quantity variable cost total cost 0 vats of juice 0 30 1 10 40 2 25 55 3 45 75 4 70 100 5 100 130 6 135 165 a. calculate average variable cost, average toal co ...

Question - the supply and demand curves for a given

Question - The supply and demand curves for a given commodity are given by S(p) = 0.02(1 + p) 2 and D(p) = 10e -0.02 p where S(p) and D(p) are quantities and the price p is measured in dollars. Use the Malaren's series e ...

Question - ivan owns a small boat and catches shrimps off

Question - Ivan owns a small boat and catches shrimps off the Redondo Beach. His weekly cost function is TC(q) = 10 + 5q + q^2. He sells shrimps to the local wholesaler at the market price p (in dollars). (a) Find Ivan's ...

The economics of cities and regions assignment - report -

The Economics of Cities and Regions Assignment - Report - Shift-Share Analysis and LGA Economic Futures Shift-share analysis and local council report on economic futures. Background: Shift-share analysis is a common econ ...

Question - suppose either computers or televisions can be

Question - Suppose either computers or televisions can be assembled with the following labor inputs: Units produced 1 2 3 4 5 6 7 8 9 10 Total labor used 3 7 12 15 25 33 42 54 70 90 The following production possibility c ...

Question - someone calculated the future worth of his

Question - Someone calculated the future worth of his investment in term of today's dollars. The obtained result was 945, 895. The life of the investment is expected to be 20 years. The average annual inflation rate alon ...

Question president trump has put forward a tax plan that

Question: President Trump has put forward a tax plan that would significantly cut personal and corporate income taxes in the U.S. Assume that Congress passes this tax cut plan and President personal Trump signs it into l ...

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

Recent Questions

Ask Macroeconomics Expert