In the long run equilibrium of a competitive market, the number of firms in the market adjusts until the market demand price is equal to the minimum of    Question 6 options:   a)  average fixed cost for the marginal firm   b)  marginal cost of the marginal firm    c)  average total cost of the marginal firm    d)  average variable cost of the marginal firm

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A: Hi, thank you for the question. As per our Honor Code, we can attempt only the first three subparts…

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Q: Which of the following is NOT a characteristic of a perfectly competitive market?    Question 2…

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A: A perfectly competitive market is characterized by a large number of buyers and sellers. The market…

Q: Lasguns are produced by identical firms in a perfectly competitive market. Each firm's Total Cost…

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A: TC=712+q2Now,AC=TCqAC=712q+q

Q: In the short run, each firm experiences a loss of $

A: We know , Profit = TR - TC  TR = Price * Quantity TR = 100 *50 TR = 5000 ATC = TCQ TC = ATC * Q  TC…

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A: Answer to the question is as follows:

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Q: A market is at long-run equilibrium of P* = $194 and Q* = 76800 units. All firms in the market are…

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A: Given : Inverse market demand be the linear form: P=39— 0.009 Q

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Q: Each firm in a competitive market has a cost function of: C = 49 + g?. so its marginal cost function…

A: Answers   In the long run AC = MC = P. Hence we have P = 49/q + q = 2q which gives q = 7 units and…

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A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: e total supply and on the m

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Q: The following graph plots daily cost curves for a firm operating in the competitive market for demin…

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Q: Suppose a firm in a perfectly competitive market faces the following total cost function TC = 100 +…

A: C. In the long-run, market will be in equilibrium when a firm will produce a quantity at which…