Start learning 50% faster. Sign in now
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
Careful is to cautious as boastful is to:
Select the set in which the numbers are related in the same way as are the numbers of the following set.
(12, 27, 21)
Select the combination of letters that when sequentially placed in the blanks of the given letter series will complete the series.
L L _ _ N O _ ...
In the following question, four number pairs are given. In each pair the number on left side of (–) is related to the number of the right side of (â€...
Choose the word which is different from the rest
Select the word which does not belong to the same group from the given alternatives.
Which word will best complete the relationship given below?
Bricklayer : Trowel :: Tailor : ?
Words given on the left side of (::) are related to each other by some logic/rule/relation. Select the missing word on the right side of (::) from the g...
Select the option that is related to the fifth number in the same way as the second number is related to first number and the third number is related to...
Select the option in which the numbers are not related in the same way as are the number of the following set.
(12, 15, 90)