Sunday
March 29, 2015

Homework Help: Economics

Posted by hiten on Monday, November 29, 2010 at 1:27pm.

Suppose a perfectly competitive firm has a cost function described by
TC = 100 + Q2
The industry price is $100.
a. Find the profit maximizing level of output.
b. Is this a short-run or long-run situation? How do you know?
c. Assuming that this firmís total cost curve is the same as all other producers, find the long-run price for this good

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Economics - Short run profit maximization - Given the following for perfectly ...
economics - The graph on the left shows the short-run marginal cost curve for a ...
Microeconomics - A perfectly competitive industry has a large number of ...
Economics - Suppose a monopolistically competitive firmís demand is given by P...
Economics - The cost function for a firm is given by TC = 500 + Q2. The firm ...
managerial economics - The cost function for a firm is given by TC = 500 + Q2. ...
Economics - you are hired as the consultant to a monopolistically competitive ...
Economics - Yeah, so I'm in urgent need of help with this homework. 1. Assume ...
economics - suppose a competitive market consists of identical firms with a ...
Microeconomics - A monopoly firm is faced with the following demand function P...

Members