EBK INTERMEDIATE MICROECONOMICS AND ITS
EBK INTERMEDIATE MICROECONOMICS AND ITS
12th Edition
ISBN: 9781305176386
Author: Snyder
Publisher: YUZU
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Chapter 9.9, Problem 1MQ
To determine

To ascertain: Long term producer surplus in an industry which is a price taker for all the inputs it hires.

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The long-run cost function of one of the identical carrot-producing firms is C(q) = 45q-q² +0.01g³. The market demand curve is Q = 10,000 - 190p. Now, the government starts collecting a specific tax, t = 15, on the carrot market The market quantity demanded is 8500, the number of firms is 200 The market quantity demanded is 2850, the number of firms is 53 The market quantity demanded is 3350, the number of firms is 67 The market quantity demanded is 5420, the number of firms is 156 None of the answers hold
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