I had to answer 50 Micro Economics questions...just stumped on these. I'd appreciate any help.
Suppose a chemical company is in a perfectly competitive industry and has a short run total cost curve of TC = 1/3q^3 + 5q^2 + 10q + 10 and a short run marginal cost of SMC = q^2 + 10q + 10. At a price of 49, how many will be produced? ( 0 ; 3 ; 5 ; 15) ?
Suppose there are 100 firms with a short run total cost of STC = q^2 + q +10, so that the marginal cost is MC = 2q +1. Supply curve for each firm is? (P = 2q+1 ; P = q^2+q+10 ; P = q+1+10/q ; P = q+1)?
Suppose a monopolist has a constant AC and MC = 8 and faces demand such that Qd = 100-P. Firms Marginal Revenue is? ( 100-q ; 100-2q ; 200-q ; 100-1/2q)
Suppose there are two firms, each selling identical beer. Demand is P = 5 - 0.001 (qh+qf) One firm has MC = AC where R2 per unit where as the other is constant cost of R1 per unit. The Formers response is... (qh = 2000 - 0.5qf ; 1500- 0.5qf ; 2000-0.5qh ; 1500-0.5qh)
Whether a market is perfectly competitive or monopolistically competitive, it depends on? (Barriers of entry ; Degree of product differentiation ; ability of firms to collude ; BoE & Dopd ; BoE & Dopd & aoftc) ?
Suppose a chemical company is in a perfectly competitive industry and has a short run total cost curve of TC = 1/3q^3 + 5q^2 + 10q + 10 and a short run marginal cost of SMC = q^2 + 10q + 10. At a price of 49, how many will be produced? ( 0 ; 3 ; 5 ; 15) ?
Suppose there are 100 firms with a short run total cost of STC = q^2 + q +10, so that the marginal cost is MC = 2q +1. Supply curve for each firm is? (P = 2q+1 ; P = q^2+q+10 ; P = q+1+10/q ; P = q+1)?
Suppose a monopolist has a constant AC and MC = 8 and faces demand such that Qd = 100-P. Firms Marginal Revenue is? ( 100-q ; 100-2q ; 200-q ; 100-1/2q)
Suppose there are two firms, each selling identical beer. Demand is P = 5 - 0.001 (qh+qf) One firm has MC = AC where R2 per unit where as the other is constant cost of R1 per unit. The Formers response is... (qh = 2000 - 0.5qf ; 1500- 0.5qf ; 2000-0.5qh ; 1500-0.5qh)
Whether a market is perfectly competitive or monopolistically competitive, it depends on? (Barriers of entry ; Degree of product differentiation ; ability of firms to collude ; BoE & Dopd ; BoE & Dopd & aoftc) ?