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Handmade bicycle frames are produced by a number of identical firms. Total (long run) monthly costs for a typical firm are given byTC(q)=50q^2-1500q+20,000, where q is the number of frames produced per month. Demand for handmade bicycle frames is given byQd=2800-3Pwhere Qd is the quantity demanded o…
Ok so MC=T'(C)=100Q-1500 (I assume you have learned calculus? This should be in your econ textbook) Since firms are IDENTICAL, market is perfectly competitive (PC). In…

C market, MC=P so 100Q-1500=(2800-Q)/3 300Q-4500=2800-Q And Q=? (this is what the question is asking for right?)



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