Solved

The Market for Sweet Potatoes Consists of 1,000 Identical Firms STC=100+100q+100q2S T C = 100 + 100 q + 100 q ^ { 2 }

Question 68

Multiple Choice

The market for sweet potatoes consists of 1,000 identical firms. Each firm has a short-run total cost curve of STC=100+100q+100q2S T C = 100 + 100 q + 100 q ^ { 2 } , and a short-run marginal cost curve of SMC=100+S M C = 100 + 200q200 q where qq is output. What is the equation of an individual firm's short-run supply curve in this market?


A) q=P/200.5q = P / 200 ^ { - .5 }
B) q=P/100.5q = P / 100 - .5
C) P=100+200qP = 100 + 200 q
D) q=P/200.5q = P / 200 - .5 for P100P \geq 100 , and q=0q = 0 otherwise.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions