2. Assume the market for tortillas is perfectly competitive. The market supply and
demand curves for tortillas are given as follows:
supply curve: P = 0.000002Q; demand curve: P = 11 - 0.00002Q
The short run marginal cost curve for a typical tortilla factory is:
MC = 0.1 + 0.0009Q
a. Determine the equilibrium price for tortillas.
b. Determine the profit maximizing short run equilibrium level of output for a tortilla
factory.
c. Assuming that all of the tortilla factories are identical, how many tortilla factories
are producing tortillas?

Question

11-06-2024
Business

Answered

Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Discover detailed solutions to your questions from a wide network of experts on our comprehensive Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

2. Assume the market for tortillas is perfectly competitive. The market supply and
demand curves for tortillas are given as follows:
supply curve: P = 0.000002Q; demand curve: P = 11 - 0.00002Q
The short run marginal cost curve for a typical tortilla factory is:
MC = 0.1 + 0.0009Q
a. Determine the equilibrium price for tortillas.
b. Determine the profit maximizing short run equilibrium level of output for a tortilla
factory.
c. Assuming that all of the tortilla factories are identical, how many tortilla factories
are producing tortillas?

Sagot :

We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.

Which set of ordered pairs could be generated by an exponential function?A. [tex]\((1,1),\left(2, \frac{1}{2}\right),\left(3, \frac{1}{3}\right),\left(4, \frac{

Find the total thickness of two pieces of wood that a carpenter glued together if one is [tex] \frac{5}{16} [/tex] inches and the other is [tex] \frac{7}{8} [/t

Change the narration she said ,’mwhere does he live’’

Supplies No. 132 Date Explanation Ref. Debit Credit Balance 1-Feb Beginning balance 425 8-Feb Supplies 1,400 1,825 would this be a debit or credit under trial b

committee of 9 is being formed randomly from the employees at a school: 10 administrators, 20 teachers, and 15 staff. What is the probability that all 9 members

What are the theoretical implications of the multiverse hypothesis in cosmology, particularly in relation to the fine-tuning of physical constants, and how does

Ivan Pavlov studied dogs, and he associated the ringing of a bell with the delivery of food powder for the dogs. Which theory arose from this work?A. Operant co

Most police officers killed in the line of duty were shot by a lone gunman with a single firearm. A. True. B. False.

Find all real solutions of the equation [tex]3x^2 + 3x + 8 = 0[/tex].Does the equation have real solutions? [ ] Yes [ ] NoIf your answer is Yes, input the solut

In ______, a complete set of chromosomes moves to opposite ends of the parent cell. a) Mitosis b) Interphase c) Anaphase d) Prophase

Sagot :

Other Questions