1
answer
0
watching
109
views
28 Sep 2019
The daily cost of producing pizza in New Haven is C(Q) = 4Q + (Q2/40); the marginal cost is MC = 4 + (Q/20). There are no avoidable fixed costs. What is the market supply function if there are 10 firms making pizza? If 20 firms are making pizza? What is the market supply curve under free entry? [HINT: As the first step, find the AC and show that AC is at its minimum when Q = 0.]
The daily cost of producing pizza in New Haven is C(Q) = 4Q + (Q2/40); the marginal cost is MC = 4 + (Q/20). There are no avoidable fixed costs. What is the market supply function if there are 10 firms making pizza? If 20 firms are making pizza? What is the market supply curve under free entry? [HINT: As the first step, find the AC and show that AC is at its minimum when Q = 0.]
Nusrat FatimaLv10
28 Sep 2019