Exhibit 9-1
-Refer to Exhibit 9-1. If all firms are identical, the equilibrium number of firms in the industry is

Name: Exhibit 9-1 -Refer to Exhibit 9-1. If all firms are identical, the equilibrium number of firms in the industry is
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Question

Exhibit 9-1 
-Refer to Exhibit 9-1. If all firms are identical, the equilibrium number of firms in the industry is

Quizplus · Accepted Answer

The equilibrium number of firms in the industry is 3,333. This is because the profit-maximizing output for each firm is 100 units, and the market demand is 333,300 units. Therefore, the number of firms that can profitably operate in the industry is 333,300 / 100 = 3,333.

Exhibit 9-1 -Refer to Exhibit 9-1. If All Firms Are Identical, the Are