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Equilibrium Price Assignment | Homework For You

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December 5th, 2019

22. Suppose that each firm has the long run cost function ​c​(​y​) = ​y​2​ + 9 for ​y​ > 0 and ​c​(0) = 0. The industry demand is given by ​D​(​p)​ = 51 – ​p​. The ​equilibrium price​in the long-run equilibrium of the industry in a perfectly competitive market is:

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a. $8

b. $3

c. $5

d. $4

e. $6. Get Economics homework help today

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