Question

1. Market demand is given as QP = 220 - 4P. Market supply is given as QS = 2P + 40. Each identical firm has MC = 0.5Q and ATC need answer quickly
0 0
Add a comment Improve this question Transcribed image text
Answer #1

we know that at market equilibrium Market dewand = Marbret Supis Troefore شود 220-4p = 2p+40 220-40 a up+2P 130 = бP P= to 30

Add a comment
Know the answer?
Add Answer to:
need answer quickly 1. Market demand is given as QP = 220 - 4P. Market supply...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Market demand is given as QD = 220 – 4P. Market supply is given as QS...

    Market demand is given as QD = 220 – 4P. Market supply is given as QS = 2P + 40. Each identical firm has MC = 0.5Q and ATC = 0.25Q. What is a firm’s average total cost? 2. Describe what happens to output, price, and economic profit in the short run and in the long run in a competitive market following: a) An increase in demand. b) A decrease in demand. c) The adoption of a new technology that...

  • 1. Market demand is given as Q = 220 - 4P. Market supply is given as...

    1. Market demand is given as Q = 220 - 4P. Market supply is given as Q = 2P + 40. Each identical firm has MC = 0.5Q and ATC = 0.250. What is a firm's average total cost? 2. Describe what happens to output, price, and economic profit in the short run and in the long run in a competitive market following: a) An increase in demand. b) A decrease in demand c) The adoption of a new technology...

  • Market demand is given as QD = 200 – 3P

    Market demand is given as QD = 200 – 3P. Market supply is given as QS = 2P + 100. Each identical firm has MC = 0.5Q and ATC = 0.25Q. What is each firm’s profit?

  • Question 5 (15 marks) Market demand is given as QD = 120 - P. Market supply...

    Question 5 (15 marks) Market demand is given as QD = 120 - P. Market supply is given as QS = 4P. Each identical firm has MC = 6Q and ATC = 3Q. Showing your calculations, answer the following questions: A) What quantity of output will a typical firm produce? (5 marks) B) What is a typical firm's average total cost? (5 marks) C) What is a a typical firm's profit? (5 marks)

  • Question 12 (1 point) Market demand is given as QD = 300 - 5P. Market supply...

    Question 12 (1 point) Market demand is given as QD = 300 - 5P. Market supply is given as QS = 5P. Each identical firm has MC = 6Q and ATC = 40. What is a firm's average total cost? $10 O $15 $20 O $30

  • 2. (15 points). The demand function for an oligopolistic market is given by the equation, Q 180-4P, where Q is quantity demanded and P is price. The industry has one dominant firm whose margina...

    2. (15 points). The demand function for an oligopolistic market is given by the equation, Q 180-4P, where Q is quantity demanded and P is price. The industry has one dominant firm whose marginal cost function is: MC 12+1Qp, and many small firms, with a total supply function: Qs 20+ P. (a) Derive the demand equation for the dominant oligopoly firm. (b) Determine the dominant oligopoly firm's profit-maximizing out- put and price. (c) Determine the total output of the small...

  • Suppose market demand andmarket supply are given by Qd = 15 –4P and Qs = -3+2P...

    Suppose market demand andmarket supply are given by Qd = 15 –4P and Qs = -3+2P What are the equilibrium quantity and price in this market? Show your work!!!

  • 1. Given the demand function Qd = -3P +40 and the supply function Qs = 4P,...

    1. Given the demand function Qd = -3P +40 and the supply function Qs = 4P, mathematically determine the amount of total revenue this firm will make when it sells it’s good at market price.

  • Suppose that supply and demand are given by the following equations: QD = 40 – 4P...

    Suppose that supply and demand are given by the following equations: QD = 40 – 4P and QS = 2p – 2. In the above market, if a price floor of $8.50 was put into place, which of the following would result?             A) A shortage of 10 units             B) A surplus of 11 units             C) Deadweight loss of at least $24             D) An increase in consumer surplus. Why is the Answer C?

  • 12.10. Suppose that the total market demand for crude oil is given by Qp70,000 - 2,000...

    12.10. Suppose that the total market demand for crude oil is given by Qp70,000 - 2,000 P, where Qp is the quantity of oil in thousands of barrels per year and P is the dollar price per barrel. Suppose also that there are 1,000 identical small producers of crude oil, each with marginal costs given by MC = q+5, where q is the output of the typical firm a. Assuming that each small oil producer acts as a price taker,...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT