8. In Kingston there are 45 identical pizza places each having the cost function c(q) =...

8. In Kingston there are 45 identical pizza places each having the cost function c(q) = 0.5q2 + 4q + 162. The market demand equation is Qd = 820 – 5P

• Find a firm’s individual supply curve and the market supply curve.

• Calculate the market equilibrium price and quantity.

• Calculate the individual firm’s output and profit.

Expert Solution

Rahul Sunny answered 2 years ago

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