Suppose the cellphone industry in the United States is perfectly competitive and contains 30 firms in...

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Suppose the cellphone industry in the United States is perfectly competitive and contains 30 firms in total. The industry con

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Ans. C) P = 8 + 1/10 Q

Aus. P= 8+ - 0 o When lo firms, Mc, = 8+29 2 when 20 firms, MC2 = 8+422 For Supply Function set (P=m -MC competitive firma pr

Now, Marlent supply Function for 30 firme Q =) 01+02= (5P-40) +(5P-40) Q = (5p+5P) -440+40) 0 = lop-80 and Inverse market sup

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