This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Monopolistic Competition in the Long RunThe airline market is monopolistically competitive. Assume ... (Read 346 times)

Deej

  • Full Member
  • ***
  • Posts: 144
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Deej on Nov 23, 2022

kaelamcrone

  • Full Member
  • ***
  • Posts: 167
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.
Answer Preview
Only 64% of students answer this correctly


Deej

  • Member
  • Posts: 144
Reply 2 on: Nov 23, 2022
Thanks for the timely response, appreciate it

milbourne11

  • Member
  • Posts: 322
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

A horse and rider in dressage competition at the Olympics A horse and rider in dressage competition at the Olympics
A young Lipizzan at the Spanish Riding School in training equipment, wearing saddle, bridle and long A young Lipizzan at the Spanish Riding School in training equipment, wearing saddle, bridle and long
Long-tailed Widowbird Long-tailed Widowbird
The Hippocampal Formation and Long-Term Potentiation The Hippocampal Formation and Long-Term Potentiation
Long-range forecasts Long-range forecasts
Long-term relationships, especially those who are married, having a child Long-term relationships, especially those who are married, having a child
Video: Stages of Mitosis - Prophase, Prometaphase, Metaphase, Anaphase & Telophase

For a complete list of videos, visit our video library