microeconomics

Market demand is given as QD = 200 – 3P. Market supply is given as QS = 2P + 100. Each identical firm has MC = 0.5Q and ATC = 0.25Q. What quantity of output will a typical firm produce?

a.10
b.20
c.30
d.40

Market demand is given as QD = 200 – 3P. Market supply is given as QS = 2P + 100. Each identical firm has MC = 0.5Q and ATC = 0.25Q. What is each firm’s profit?

a.$0
b.$200
c.$400
d.$800

  1. 👍
  2. 👎
  3. 👁
  1. 10

    1. 👍
    2. 👎
  2. 1. 40
    2. 400

    1. 👍
    2. 👎
  3. 20

    1. 👍
    2. 👎

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