Monday
April 21, 2014

Homework Help: economics

Posted by adele on Friday, January 30, 2009 at 11:13am.

A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized at an output of 20 units. The minimum average cost is $10 per unit. Total market demand is given by Q=1500-50P.

a. What is the industry's long-run supply schedule?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

economics - This is going to be really long, but I want to see if my answers are...
Microeconomics - A perfectly competitive industry has a large number of ...
economics - perfectly competitive industry. Each firm having identical cost ...
microeconomics - The short-run cost curve for each firm's long run equilibrium ...
Economics - Consider total cost and total revenue given in the following: (...
Economics - a firm in a purely competitive industry is currently producing a ...
Economics - Suppose a perfectly competitive firm has a cost function described ...
Micreoeconomics - 1. Assume a perfectly competitive constant cost industry, ...
Economics - Yeah, so I'm in urgent need of help with this homework. 1. Assume ...
Economics - For the following characteristic say whether it describes a ...

Search
Members