The cheese business in Lake Fon-du-lac, Wisconsin, is a competitive industry. All cheese manufacturers have the cost function C = Q² + 9, while demand for cheese in the town is given by Q_d = 120 - P. The long-run equilibrium number of firms in this industry is

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The Answer of The cheese business in Lake Fon-du-lac, Wisconsin, is a competitive industry. All cheese manufacturers have the cost function C = Q² + 9, while demand for cheese in the town is given by Q_d = 120 - P. The long-run equilibrium number of firms in this industry is

The Cheese Business in Lake Fon-Du-Lac, Wisconsin, Is a Competitive