Suppose that the market for ice cream sandwiches is perfectly competitive. Firms that produce ice cream sandwiches are identical; their long-run cost functions are given by. Market demand is .

The long-run price is the minimum average total cost and it is found by equating the first differentiation of ATC equal to zero.

The price is $87.75

b)

Q=6000-P

P=87.75

Q=6000-87.75

Q=5912.25

the total industry output is 5912.25 units

c)

Number of firms = total industry output /one firm output =5912.25/1.5

=3941.5

The number of firms is 3941.5

answerattainable;

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

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anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

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nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

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