Answer to Question #85882 in Microeconomics for Ayanda Lubisi

Question #85882
The market supply curves and market demand curves for books are given as follows:
Supply curve: P = 0.000002Q Demand curve: P = 11 – 0.00002Q
The short-run marginal cost curve: MC = 0.1 + 0.0009Q
1. The equilibrium quantity of books is …
1. 500 000 books
2. 1 000 books
3. 1 book
4. 10 000 books
1
Expert's answer
2019-03-07T11:38:41-0500

The equilibrium quantity of the books is ---- P(s)=P(d); 0.000002Q=11 – 0.00002Q; 0.000022Q=11

Q=500000

So, the right variant is the first one.




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