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雷达卡
The market demand schedule for cassettes is:
Price Quantity demanded
3.65 500
5.20 450
6.80 400
8.40 350
10.00 300
11.60 250
13.20 200
14.60 150
the market is perfectly competitive and each firm has the following cost structure:
Output(cassettes per wk) MC AVC ATC
150 6 8.8 15.47
200 6.4 7.8 12.8
250 7 7 11
300 7.65 7.1 10.43
350 8.4 7.2 10.06
400 10 7.5 10
450 12.4 8 10.22
500 20.7 9 11
a) There are 1,000 firms in the industry.
i)
What is the market price?
ii)
What is the industry’s output?
iii)
What is the output produced by each firm?
iv)
What is the economics profit made by each firm?
v)
Do firms enter or exit the industry?
vi)
What is the number of firms in the long run?
b) If fixed cost increased by $980. What now are your answers to the above questions
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