The Market for Sweet Potatoes Consists of 1,000 Identical Firms $Q ^ { d } = 1000 - 5 P$

question 76

Multiple Choice

The market for sweet potatoes consists of 1,000 identical firms. The market demand curve is given by $Q ^ { d } = 1000 - 5 P$ . Each firm has a short-run total cost curve of $S T C = 100 + 100 q +$ $100 q ^ { 2 }$ , and a short-run marginal cost curve of $S M C = 100 + 200 q$ , where $q$ is output. All fixed costs are sunk. In short-run market equilibrium, each individual firm will:

• A) earn a short-run profit.
• B) earn a short-run loss.
• C) earn zero economic profit.
• D) produce an output of \(q = 4\).

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Definitions:

Module Objects

Components in programming that encapsulate related functions or procedures, often used in VBA or other languages.

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Specific guidelines and constraints defined within a business framework that govern operations and processes to ensure unique, consistent, and standardized practices.

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