Suppose that short- run SMC = 10 + 2Q for an individual firm in a competitive market. If there are 100 identical firms in this market, then the short- run supply curve can be written as:
A) P = 10 + 200Q.
B) P = 1000 + 2Q.
C) P = 1000 - 200Q.
D) P = 10 + 0.02Q.
Correct Answer:
Verified
Q21: A price taking firm that has TC
Q22: Andrew's demand for fish is: QA=12- 3P.
Q23: Market supply is:
A)is the sum of the
Q24: A competitive equilibrium:
A)is never Pareto- optimal.
B)requires a
Q25: The competitive firm's supply curve:
A)gives the profit-
Q27: A perfectly competitive market's short- run supply
Q28: A necessary condition for an industry to
Q29: If a competitive firm has TC =
Q30: In long run equilibrium:
A)no firms enter or
Q31: In the short run marginal product of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents