Business, 18.09.2019 04:30 charati5408

There are currently 10 identical firms in the perfectly competitve gadget manufacturing industry. each firm operates in the short run with a total fixed cost of f and total variable cost of 2q^2, where q is the number of of gadgets produced by each firm. the marginal cost for each firm is mc=4q. each firm has also non-sunk fixed costs of 128. each firm would just break-even(earn 0 economic profit) if the market price were 40. ( the equilibrium price is not necessaryly 40 when there are 10 firms in the market)the market demand for gadgets is qm=180-2.5p, where qm is the amount purchased in the entire market. how large is the total fixed costs for each firm? explain.

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