Lasguns are produced by identical firms in a perfectly competitive market. Each firm's Total Cost function is TC = 437+16q+q^2 and Marginal Cost function is MC = 16+2q. Market demand is P = 260-2Q.   What is the long-run equilibrium market price?

The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, including firms, is possible.  We have identical firms, each with a Total Cost curve of TC=358+q^2 and Marginal Cost curve MC=2q.  Market demand is Q=600-2P.  If the Marginal Cost for every firm decreases by $10 at every quantity, what is the short-run market price?   Hint: first find the number of firms by solving for the original LR equilibrium.

There are 80 firms of type A and 60 firms of type B in a perfectly competitive market. On one hand, type A firm faces a fixed cost (all sunk) of $12 and average variable cost is 2q. On the other hand type B firm faces a fixed cost (all sunk) of $100 and the variable cost is 3g. Market demand function is given by Q=1200-70P Find the equilibrium quantity of a type A firm and its profit, respectively. Oq=4, profit-$4 Oq=2, profit=$4 q-3, profit=$6 q=5, profit-$23

In a competitive market, the current equilibrium price is $100 per unit. A firm that produces Q units of output in this market has a short-run Total Cost (TC) given by ?? = 1000 + 20? + 2?2. What is the marginal cost for this firm? How many units should the firm produce?

Glowglobes are produced by identical firms in a perfectly competitive market. There are 22 firms in the market. Each firm's Total Cost function is TC=284+3q+q^2 and Marginal Cost function is MC=3+2q. Market demand is Q=326-P.  What is the short-run equilibrium market price?

A firm operates two plants.  The total cost schedules for the respective plants are TC1 = 5*Q1 + .1*Q12 and TC2= 2*Q2 + .1*Q22.  The firm’s demand schedule is Q = 160 – 10*P. What is the profit maximizing output for the firm?

Suppose that there are 10 identical firms in a perfectly competitive market. Each firm has a total cost function of TC = 560 + 0.25q2, where q is a firm’s output. The market demand function is QD = 480 – 4P, where P is the price per unit of output and QD is total market demand a) Derive the market direct supply equation (QS = f(P)) b) Calculate the short run equilibrium market price (P*) and total quantity (Q*) in the market c) Determine the profit-maximizing quantity (q*) that each firm would produce d) Determine the profit, the average total cost (ATC), and the average variable cost (AVC) of the firm at its profit-maximizing quantity (q*) Answer all the four sub-parts

Suppose a perfectly competitive market has firms with total cost given by c(y) = 3y2+ 10. a) What is the individual firm’s profit-maximizing output? b) If there are m firms, what is the industry supply function? c) Let the industry demand be X(p) =a−bp, where a and b are positive constants. Find theequilibrium price in the market. What is the equilibrium quantity sold?

Suppose a perfectly competitive market with 5 firms in the market. Each firm has supply characterized by P(q)=MC(q)=2+q/2. If 160 units were transacted in total, what was the market price?

There are 80 firms of type A and 60 firms of type B in a perfectly competitive market. On one hand, type A firm faces a fixed cost (all sunk) of $12 and average variable cost is 2q. On the other hand type B firm faces a fixed cost (all sunk) of $10 and the variable cost is 3q. Market demand function is given by Q=1200-70 P. Find the equilibrium price in the market. $7 $8 $12 $10