B industry is perfect competitive and each producer has a


B industry is perfect competitive, and each producer has a long-run total cost curve TC(Q) = 20Q - 2Q^2 + Q^3. The market demand curve is D(P) = 2488 - 2P.
a) What is the long-run equilibrium price in this industry? How much would an individ- ual firm produce?
b) How many active producers are in B industry in a long-run competitive equilibrium? 

Request for Solution File

Ask an Expert for Answer!!
Chemistry: B industry is perfect competitive and each producer has a
Reference No:- TGS01003384

Expected delivery within 24 Hours