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- The market for Ramen noodle bowls is perfectly competitive. Market demand is given by Q=67-3P. If 19 bowls of noodles are demanded in the market, what is market price? Enter a number only. Remember, fractions of goods are possible.= = 41. Suppose that the market for cigarettes is initially in equilibrium and is perfectly competitive. The demand curve can be expressed as P 60Qd; the supply curve can be expressed as P 0.5Qs. Quantity is expressed in millions of boxes per month. What are the amount traded and the price for this market? a) Q = 40; P = 20 b) Q = 20; P = 40 c) Q = 30; P = 30 d) Q = 30; P = 15In view of the profits being made, more firms will want to get into Frisbee production. In the long run, these new firms will shift the market supply curve to the right and push the price down to average total cost, thereby eliminating profits. At what equilibrium price are all profits eliminated? How many firms will be producing Frisbees at this price?
- The market for paperback detective novels is perfectly competitive. Market Demand is given by Q=106-7P. Market Supply is given by P=5+2Q. What is market QUANTITY? Enter a number only. Remember, fractions of goods are possible.If demand for the peach industry is given by P=100-.04Q and supply is given by P=.01Q.Assume the market is perfectly competitive. What is the market price? $The market for paperback detective novels is perfectly competitive. Market Supply is given by P=5+3Q. If the Marginal Cost of the last unit sold is $65, how many units are sold in the market? Enter a number only. Remember fractions of goods are possible.
- Assume the market for oil is perfectly competitive, with the following market demand and supply curves (price in S and quantities in millions of barrels per day): Qd=95-P Qs= 15 + 3P Find the equilibrium price and quantity exchanged in this market.The market for paperback detective novels is perfectly competitive. Market Demand is given by Q=393-7P. Market Supply is given by Q=3P-9. Suppose 55 units are bought to the market. Consider the Marginal Cost of production for these 55 units. What is the maximum Marginal Cost of production of these 55 units? Enter a number only, do not include the $ sign. Hint: 55 doesn't have to be the market quantity.The market demand for Ramen noodle bowls is Q=568-4P. The market supply for Ramen noodle bowls is given by P=5+4Q. Assume the market for Ramen noodle bowls is perfectly competitive. What is market QUANTITY? Enter a number only,
- Will a profit-maximizing firm in a competitive market ever produce a positive level of output in the range where the marginal cost is falling? Give an explanation.Is a firm that satisfies the immediate needs and wants of target markets always doing what’s best for its consumers in the long run?The market for paperback detective novels is perfectly competitive. We have two types of book publishers in the market- Small Press and Large Press. Each Small Press publisher's supply curve is given by P=76+5Q. Each Large Press publisher's supply curve is given by Q=2P-24 Suppose there is only 1 publisher of each type. What is market supply when market price is $60? Enter a number only. Remember, fractions of goods are possible.