If a Representative Firm with Total Cost Given by TC

question 20

Multiple Choice

If a representative firm with total cost given by TC = 20 + 20q + 5q² operates in a competitive industry where the short-run market demand and supply curves are given by Q_D = 1,400 - 40P and Q_S = -400 + 20P,the number of firms operating in the short run will be:

• A) 100.
• B) 140.
• C) 200.
• D) 280.
• E) 240.