Microeconomics (2nd Edition) (Pearson Series in Economics)
2nd Edition
ISBN: 9780134492049
Author: Daron Acemoglu, David Laibson, John List
Publisher: PEARSON
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Chapter 6, Problem 6P
(a)
To determine
(b)
To determine
Quantity supplied by all the firms at a market price of
(c)
To determine
(d)
To determine
Long-run equilibrium price.
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2.1
A manufacturer estimates that its variable cost for manufacturing a given product
is given by the following expression:
C(q) = 25q² + 2000q [$] where C is the total cost and q is the quantity produced
a. Derive an expression for the marginal cost of production
b. Derive expressions for the revenue and the profit when the widgets are sold
at marginal cost.
Chapter 6 Solutions
Microeconomics (2nd Edition) (Pearson Series in Economics)
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