{"id":106342,"date":"2022-01-26T08:52:45","date_gmt":"2022-01-26T08:52:45","guid":{"rendered":"https:\/\/essayparlour.com\/paperhelp\/?p=106342"},"modified":"2022-01-26T08:52:45","modified_gmt":"2022-01-26T08:52:45","slug":"suppose-that-the-identical-firms-in-a-perfectly-competitive-market","status":"publish","type":"post","link":"https:\/\/essayparlour.com\/paperhelp\/business-economics-2\/suppose-that-the-identical-firms-in-a-perfectly-competitive-market\/","title":{"rendered":"Suppose that the identical firms in a perfectly competitive market"},"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 identical firms in a perfectly competitive market for cakes have long-run total cost functions given by TC(Q) = 10Q3 &#8211; 60Q2 + 100Q. Total cost is independent of the number of firms and total output in the market.<br \/>\n a. Describe the long-run supply curve for this industry.<br \/>\n b. Suppose market demand is QD = 1,000 &#8211; 40P. Solve for the long-run competitive equilibrium price, output per firm, and number of firms in the market.<br \/>\n c. Suppose demand decreases to QD = 800 &#8211; 40P. Solve for the long-run competitive equilibrium price, output per firm, and number of firms in the market.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Question<\/p>\n<p>\nSuppose that the identical firms in a perfectly competitive market for cakes have long-run total cost functions given by TC(Q) = 10Q3 &#8211; 60Q2 + 100Q. Total cost is independent of the number of firms and total output in the <\/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-106342","post","type-post","status-publish","format-standard","hentry","category-business-economics-2"],"_links":{"self":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106342","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=106342"}],"version-history":[{"count":1,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106342\/revisions"}],"predecessor-version":[{"id":106343,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106342\/revisions\/106343"}],"wp:attachment":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/media?parent=106342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/categories?post=106342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/tags?post=106342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}