What would be the long run price and quantity for this firm
Given equation:
TC=1/8q^3-1.5Q^2+11.5Q
P=37-0.01q(demand)
p=1+0.01q(supply)
Questions
1. What would be the long run price and quantity for this firm in a competitive market?
2. In the long run how many firms are in the industry?
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What would be the long run price and quantity for this firm in a competitive market? 2. In the long run how many firms are in the industry?
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Security Applications manufactures home- and business-related physical security systems designed to protect property while the owners are away or asleep. It is owned byArnold, and the day-to-day management is left to Bob, who has been an employee of
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