{"id":33458,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/consider-some-firms-with-identical-cost-functions-cq-90-20q-0-1q2-for-q0-and-c0-0-where-q-is-firm-output-suppose-as-well-that-aggregate-demand-is-dp-800-10p-2"},"modified":"2017-08-16T06:19:10","modified_gmt":"2017-08-16T06:19:10","slug":"consider-some-firms-with-identical-cost-functions-cq-90-20q-0-1q2-for-q0-and-c0-0-where-q-is-firm-output-suppose-as-well-that-aggregate-demand-is-dp-800-10p-2","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/consider-some-firms-with-identical-cost-functions-cq-90-20q-0-1q2-for-q0-and-c0-0-where-q-is-firm-output-suppose-as-well-that-aggregate-demand-is-dp-800-10p-2\/","title":{"rendered":"Consider some firms with identical cost functions c(q) = 90 + 20q + 0.1q2 for q>0, and c(0) = 0, where q is firm output. Suppose as well that aggregate demand is D(p) = 800 \u2013 10p."},"content":{"rendered":"<div class=\"the_content_wrapper\">\n<p>QuestionAg<br \/> Consider some firms with identical cost functions c(q) = 90 + 20q + 0.1q2 for q&gt;0, and c(0) = 0, where q is firm output. Suppose as well that aggregate demand is D(p) <\/p>\n<p>= 800 \u2013 10p.<\/p>\n<p>a) What is the supply function for the single firm?<br \/> b) If there are 10 firms, what are the competitive equilibrium price<\/p>\n<p>and quantity? What is the consumer surplus? What is each firm\u2019s profit?<\/p>\n<p>c) In the long run firms are free to enter or leave the industry. What is the long run competitive equilibrium price and quantity? How many firms operate in this <\/p>\n<p>industry, and what is each firm\u2019s profit?<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>QuestionAg Consider some firms with identical cost functions c(q) = 90 + 20q + 0.1q2 for q&gt;0, and c(0) = 0, where q is firm output. Suppose as well that aggregate demand is D(p) = 800 \u2013 10p. a) What <a href=\"https:\/\/www.benedictsol.com\/blogs\/consider-some-firms-with-identical-cost-functions-cq-90-20q-0-1q2-for-q0-and-c0-0-where-q-is-firm-output-suppose-as-well-that-aggregate-demand-is-dp-800-10p-2\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-33458","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/33458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=33458"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/33458\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=33458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=33458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=33458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}