Face masks are manufactured by identical shops (and sold on Etsy). Each shops's total cost of...

Face masks are manufactured by identical shops (and sold on Etsy). Each shops's total cost of production is equal to 0.5q²+4q+18

where q is the number of masks produced.

The demand for masks is given by Q=1800-60p

where Q is the quantity demanded and P is the price. How many masks will be sold? How many firms will there be in the mask industry?

Show your work.

Expert Solution

Rahul Sunny answered 2 years ago

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Face masks are manufactured by identical shops (and sold on Etsy). Each shops's total cost of...

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