If the market supply curve and market demand curve for a good intersect at 600,000 units and there are 10,000 identical firms in the market,then each firm is producing
A) 600,000 units.
B) 60,000,000,000 units.
C) 60,000 units.
D) 60 units.
E) 10,000 units.

Question

Quizplus · Accepted Answer

If the market supply and demand intersect at 600,000 units and there are 10,000 identical firms, each firm produces 600,000 / 10,000 = 60 units.

If the Market Supply Curve and Market Demand Curve for a Good