The treadmill market is a competitive industry with long-run economic costs. Provided the following information, what is the long-run equilibrium price in this industry? CLR(q) =32+2q² MC=4q Avg. cost = 32/q+2q

The treadmill market is a competitive industry with long-run economic costs. Provided the following information, what is the long-run equilibrium price in this industry? CLR(q) =32+2q² MC=4q Avg. cost = 32/q+2q

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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