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Problem

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question

Suppose there are 100 identical firms in a perfectly competitive industry. Each firm has a short-run total cost function of the form C(q) = \frac{1}{300}q^3 + 0.2q^2 + 4q + 10. Suppose market demand is given by Q = -200P + 8,000. What will be the short-run equilibrium price?

category

business

options

  1. 25
  2. 28
  3. 30
  4. 50
  5. 20
  6. 15
  7. 35
  8. 45
  9. 10
  10. 40

src

theoremQA-Finance

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