1. There are 300 identical firms in a perfectly competitive market, the price of the output is p, the short-run cost function of a typical firm in the market is as follows: C(q) = q³-2q?+2q+10 e. If p...


I need answers of F, G, H


1. There are 300 identical firms in a perfectly competitive market, the price of the output is<br>p, the short-run cost function of a typical firm in the market is as follows:<br>C(q) = q³-2q?+2q+10<br>e. If p = 17, what is this firm's producer surplus?<br>f. What is the short-run market supply function?<br>g. If the market demand function is D = 500 – 50/3p – 2, what is the short-run<br>market equilibrium price and market equilibrium output quantity?<br>h. What is the output level and the profit of a typical firm at the market equilibrium<br>from (g)?<br>

Extracted text: 1. There are 300 identical firms in a perfectly competitive market, the price of the output is p, the short-run cost function of a typical firm in the market is as follows: C(q) = q³-2q?+2q+10 e. If p = 17, what is this firm's producer surplus? f. What is the short-run market supply function? g. If the market demand function is D = 500 – 50/3p – 2, what is the short-run market equilibrium price and market equilibrium output quantity? h. What is the output level and the profit of a typical firm at the market equilibrium from (g)?

Jun 11, 2022
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