. problems and applications q7 consider a monopolistically competitive market with n firms. each firm's business opportunities are described by the following equations: demand: q=100n?p marginal revenue: mr=100n?2q total cost: tc=50+q2 marginal cost: mc=2q as n rises, the demand for each firm's product . how many units does each firm produce? 400n 25n 25 25n what price does each firm charge? 125n 75n 75n 100n how much profit does each firm make? 50+625n2 1,875n2 2,500n2?50 1,250n2?50 in the long run, firms will exist in this market.
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Category: art | Author: Torquil Vilhelm
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