Three hundred paper mills compete in the paper market. The total cost of production (in dollars) for each mill is given by the formula TC = 1,000Qmill + (Qmill)2, where Qmill indicates the mills annual production in thousands of tons. The marginal external cost of a mill's production (in dollars) is given by the formula MEC = 200 + 2Qmill. Finally, annual market demand (in thousands of tons) is given by the formula Qd = 200,000 - 100P. Which of the following gives the market supply curve?
A. Qs = 200,000 - 100P
B. Qs = 0.5P - 500
C. Qs = 150P - 150,000
D. Qs = 150P - 30,000
C. Qs = 150P - 150,000
You might also like to view...
Which of the following is fixed on a coupon bond?
A) coupon rate B) current yield C) market price D) yield to maturity
When the price level is below the level at which the aggregate demand curve crosses the long run aggregate supply curve
A) there will be no price level change. B) there will be pressures that will lead to a shift of either the aggregate demand or the long run aggregate supply curves. C) total planned real expenditures will exceed actual real GDP, and the price level will increase. D) total planned real expenditure will be lower than actual real GDP, and the price level will increase.
Under a fixed exchange rate regime, what will happen to the balance of payments for the United States and Mexico when the demand for Mexican goods rises? What is the only possible solution to this problem, given the fixed exchange rate?
What will be an ideal response?
Advertising is used by firms in a monopolistic competitive industry to
A. increase brand loyalty. B. differentiate their product from those of competitors. C. increase demands for their individual products. D. all of these.