In a place there are some apple sellers. Each seller's marginal cost is 15$. There are no fixed costs. Each seller can sell at most 1000 apples per day.
a) If an apple's price is 20$, how many does every seller want to sell a day?
b) How many sellers can exist if the total demand for apples is given by D(p) = 70000 - 3000P (if each seller is assume to sell 1000 apples a day)?
c)
What is the equilibrium pirce?
a) If an apple's price is 20$, how many does every seller want to sell a day?
b) How many sellers can exist if the total demand for apples is given by D(p) = 70000 - 3000P (if each seller is assume to sell 1000 apples a day)?
c)
What is the equilibrium pirce?