There are 100 identical demanders of product y, and the demand function for each individual is y = 10 - p. The production function for any firm is y = min(z₁,z₂). If the prices of z₁and z₂depend on aggregate input requirements in the following way: w₁= z₁/200, w₂= z₂/200, then the quantity produced in long- run equilibrium is: A)800. B)500. C)700. D)600.

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The Answer of There are 100 identical demanders of product y, and the demand function for each individual is y = 10 - p. The production function for any firm is y = min(z₁,z₂). If the prices of z₁and z₂depend on aggregate input requirements in the following way: w₁= z₁/200, w₂= z₂/200, then the quantity produced in long- run equilibrium is: A)800. B)500. C)700. D)600.

There Are 100 Identical Demanders of Product Y, and the Demand