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=712+q^2 and Marginal Cost curve MC=2q. Market demand is Q=895-2P. What is the long-run equilibrium market price? Enter a number only, drop the $ sign.
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=712+q^2 and Marginal Cost curve MC=2q. Market demand is Q=895-2P. What is the long-run equilibrium market price? Enter a number only, drop the $ sign.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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=712+q^2 and Marginal Cost curve
MC=2q.
Market demand is Q=895-2P.
What is the long-run equilibrium market price ? Enter a number only, drop the $ sign.
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