Suppose that the market for laptops is perfectly competitive. These companies are identical with their long-run...
Suppose that the market for laptops is perfectly competitive. These companies are identical with their long-run cost functions for a full day of keyboarding given by:
TC(Q) = 6Q3-30Q2+200Q
Market Demand is:
Qd = 8,000 - 20P
a. Find the long-run equilibirum price in this industry
b. Use market demand to find the equilibrium total industry output.
c. Find the equilibrium number of firms.
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Suppose that the market for laptops is perfectly competitive.
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