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Author Question: Monopolistic Competition in the Long RunThe airline market is monopolistically competitive. Assume ... (Read 417 times)

Deej

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on: Nov 23, 2022
Monopolistic Competition in the Long Run

The airline market is monopolistically competitive. Assume that each firm has a fixed daily cost of $5500 and a marginal cost of $275 per flight. Suppose that each firm can fly up to 30 flights per day. In the long run, the firm faces an inverse demand P= 700 - 40Q, which means its marginal revenue is MR = 700 -80Q.
How many total flights will be scheduled? What is the equilibrium price?
In the long run, how many firms will be in the market?
Please round your final answer to two decimal places.
◦ 11, $300.00, 0.18
◦ 5, $300.00, 318.75
◦ 5, $500.00, 0.18
◦ 11, $500.00, 318.75
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by Deej on Nov 23, 2022

kaelamcrone

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Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Deej

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Reply 2 on: Nov 23, 2022
YES! Correct, THANKS for helping me on my review

chjcharjto14

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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