Suppose there are 100 firms each with a short run total cost of STC = q2 + q + 10, so that marginal cost is MC = 2q +1. If market demand is given by QD = 1050 − 50P, how much will be produced in the market?
a. 300 b. 400 c. 500 d. 600
Ans. If there are 100 firms each with a short run total cost of STC = q2 + q + 10, so that marginal cost is MC = 2q +1. If market demand is given by QD = 1050 - 50P, then c. 500 will be produced in the market.
c. 500 .
Suppose there are 100 firms each with a short run total cost of STC = q2...