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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

12 years ago

Answers

Anonymous
10
11 years ago
y
1. 40
2. 400
11 years ago
bob
20
11 years ago

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