The long-run supply curve for a product is horizontal with ATC = 200. Market demand is defined as P = 1,000 - 4 Q. The market is competitive and is in long-run equilibrium with 50 firms in the industry. If demand increases to P = 1,240 - 4 Q, how many firms will be in the industry at the new long-run equilibrium?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The long-run supply curve for a product is horizontal with ATC = 200. Market demand is defined as P = 1,000 - 4 Q. The market is ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Randy Guerrero wants to buy a home in Atherton, California, where the price of an average house is over $1 million. He is saving his money by not going on vacations, keeping his old car, and minimizing all other expenses.
Answers (1)
If an investment is 70 percent likely to return 10 percent per year and 30 percent likely to return 15 percent a year, then its average expected rate of return is
Answers (1)
Reminder advertising is primarily used to
Answers (1)
January 1, 2016, Kendall Inc. began construction of an automated cattle feeder system. The system was finished and ready for use on September 30, 2017.
Answers (1)
Bob and Megan have been placed on a team at work to find ways to improve product quality and reduce waste. What type of team are they likely to be on?
Answers (2)
New Questions in Business
A demand curve that is horizontal indicates that the commodity
Answers (1)
An individual who make and sell goods and services are?
Answers (1)
Rhiannon Corporation has bonds on the market with 13.5 years to maturity, a YTM of 7.4 percent, a par value of $1,000, and a current price of $1,059. The bonds make semiannual payments. What must the coupon rate be on these bonds?
Answers (1)
Georgia Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Georgia Corp Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Increase / (Decrease) Cash
Answers (1)
Cayo Casta Cabins Corporation recently purchased Ship Island Resort and Casino and the land on which it is located with the plan to tear down the resort and build a new luxury hotel on the site.
Answers (1)