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In the long run the firm satisfies two conditions. Profit maximization → MR = P = LMC Free Entry → π = 0 → P = LAC Thus at output level of each firm LMC = LAC → 100 + 4q = (20,000 / q ) +100 + 2q → q* = 100, Also, 100 + 4q = P 100+4(100) = 500 = P P* = 500 At P = 500, industry output, from the demand curve, is Q = 10,000 - 10×500 = 5,000 The number of firms is thus 5,000/100 = 50
Which is best fit for blank space 17?
Which involve two factor authentication
A software developer is designing a banking application where each bank account object should restrict direct access to its balance variable to prevent ...
Predict the output
list1 = ['physics', 'chemistry', 1997, 2000]
list2 = [1, 2, 3, 4, 5, 6, 7 ]
print "list1[0]: ", list1[0]
What is the primary goal of code optimization in software development?
Which of the following data structures is most suitable for implementing a priority queue with efficient insertion and deletion operations based on prio...
In the Software Development Lifecycle, which phase is primarily responsible for identifying and documenting the needs of the stakeholders to create a bl...
What is an effective method to enhance security compliance in data handling practices?
What is the primary purpose of using private class members in object-oriented programming?
What is the purpose of the CASE statement in SQL?