(Solved by Humans)-21. The market for gilders is initially competitive and the
Paper Details
21. The market for gilders is initially competitive and the market demand is: P 9QD = 231? 0. . Thecombined marginal costs of the firms in the gilder industry are: MC = 11+ 0.2Q.a. Graph the market demand and MC curves, and indicate the MR curve for the firms in the gilderindustry below. How much is produced in the industry and what is the price of gilders?
Solution
The graph is given as
250
200
150
132
Price
MC
MR
100
50
0
0
50
100
150
200
Quantity
MR = 231 ? 0.9Q
For profit maximization
MC = MR
11 + 0.2Q = 231 ? 0.9Q
1.1Q = 220
Q...
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This question was answered on: 10 May, 2025
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