{"id":106340,"date":"2022-01-26T08:51:30","date_gmt":"2022-01-26T08:51:30","guid":{"rendered":"https:\/\/essayparlour.com\/paperhelp\/?p=106340"},"modified":"2022-01-26T08:51:30","modified_gmt":"2022-01-26T08:51:30","slug":"suppose-that-the-market-for-auto-detailing-in-a-city","status":"publish","type":"post","link":"https:\/\/essayparlour.com\/paperhelp\/business-economics-2\/suppose-that-the-market-for-auto-detailing-in-a-city\/","title":{"rendered":"Suppose that the market for auto detailing in a city"},"content":{"rendered":"<table style = 'table-striped table-bordered table-hover' responsive='true'>\n<tr>\n<th>Question<\/th>\n<\/tr>\n<tr>\n<td>Suppose that the market for auto detailing in a city is perfectly competitive. The auto detailing firms are identical and have long-run cost functions given by TC(Q) = 10Q3 &#8211; 100Q2 + 300Q. Market demand is QD = 5,000 &#8211; 90P.<br \/>\n a. Derive the marginal and average cost curves for a firm in this industry.<br \/>\n b. Find the quantity at which average total cost is minimized for each firm.<br \/>\n c. Find the long-run equilibrium price in this industry.<br \/>\n d. Use market demand to find the equilibrium total industry output.<br \/>\n e. Find the equilibrium number of firms.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Question<\/p>\n<p>\nSuppose that the market for auto detailing in a city is perfectly competitive. The auto detailing firms are identical and have long-run cost functions given by TC(Q) = 10Q3 &#8211; 100Q2 + 300Q. Market demand is QD = 5,000 &#8211; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-106340","post","type-post","status-publish","format-standard","hentry","category-business-economics-2"],"_links":{"self":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/comments?post=106340"}],"version-history":[{"count":1,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106340\/revisions"}],"predecessor-version":[{"id":106341,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106340\/revisions\/106341"}],"wp:attachment":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/media?parent=106340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/categories?post=106340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/tags?post=106340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}