Assume that all firms in a competitive industry have cost curves given by the following: TC = 128 +8q +2q2. Further, the market demand curve is given by: p = 72-2Q. In the long run market equilibrium, each firm that remains in the market will produce: Group of answer choices 2. 4. 8. 40. More information is required to answer this question.

Consider a competitive, constant-cost industry. Firms operating in this market are identical and each firm's total cost is given by TC = 180 + 43q + 5q2. If the market demand curve is P = 331 - 2Q, what is the number of firms in this market in the long run?

Consider a competitive, constant-cost industry. Firms operating in this market face an identical cost of production. The total cost is given by TC = 180 + 33q + 5q2. What is the price in the long-run market equilibrium?

Assume that all firms in a competitive industry have cost curves given by the following: TC = 15 +8q +9q2. In the short-run, the price at which a firm will start to shut down is

Consider a perfectly competitive market with identical firms and a downward-sloping market demand curve. Assume that the market is initially in a long-run (and short-run) equilibrium. Suppose the variable costs of production increase, which shifts up the marginal cost and average total cost curves to the same extent. In the long run, we would expect the price to _________ and the number of firms in the market to ___________.Group of answer choicesincrease; decreaseincrease; increasedecrease; decreasedecrease; increaseNone of the above

Consider a monopolistically competitive market with N firms.Each firm's business opportunities are described by the following equations: Demand: Q=100/N-P Marginal revenue: MR=100/N-2Q Total cost: TC=50+Q^2 Marginal cost: MC=2Q a) How does N, the number of firms in the market, affect each firm's demand curve? Why? b) How many units does each firm produce? (The answers to this and the next two questions depend on N.) c) What price does each firm charge? d) How much profit does each firm make? e) In the long run, how many firms will exist in this market?