February 24, 2017

Homework Help: Public Finance

Posted by Barbara on Tuesday, September 21, 2010 at 3:32pm.

Suppose the marginal social cost of television sets is $100. This is constant and equal to the average cost of television sets. The annual demand for television sets is given by the following equation: Q = 200,000 – 500P2. If television sets are sold in a perfectly competitive market, calculate the annual number sold. Under what circumstances will the market equilibrium be efficient?

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