Suppose That 100 Firms, Each with the Supply Function Q=0

question 28

Multiple Choice

Suppose that 100 firms, each with the supply function Q=0.01P are in a particular market. If the market demand is Q=10- 0.5P then the market price is:

• A)0.01.
• B)10.
• C)0.5.
• D)5.

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Definitions:

Coalition

An alliance of factions, parties, or nations for a specific purpose, often temporary.

Uniform Network

A network system where all components operate under the same protocol or standard.

Strong Ties

Relationships marked by close, personal connections and frequent interactions, often within a tight-knit community or network.

Weak Ties

Social connections that are not strong, frequent, or close, often providing unique information or opportunities due to their diverse nature.