Question 1 The city of Fort Hood has a thriving perfectly competitive market for buzz cuts. The short run daily cost function for every buzz cut barber is Cs (y)=25+ y² for y > 0 and CS (0) = 16. There are exactly 100 barbers operating in the market in the short run. The daily market demand curve for buzz cuts is D(p) = 1600 - 50p. What is the short run equilibrium price in the Fort Hood market for buzz cuts? Op 20 Op 10 Op=16 Op=6 Question 2 The city of Fort Hood has a thriving perfectly competitive market for buzz cuts. The short run daily cost function for every buzz cut barber is CS (y) = 25+y2 for y > 0 and CS (0) = 16. There are exactly 100 barbers operating in the market in the short run. The daily market demand curve for buzz cuts is D(p) = 1600 - 50p. What is the daily profit of each barber in the short run equilibrium in the Fort Hood market for buzz cuts? ○ $55 ○ $0 $128 ○ $39

Question 1 The city of Fort Hood has a thriving perfectly competitive market for buzz cuts. The short run daily cost function for every buzz cut barber is Cs (y)=25+ y² for y > 0 and CS (0) = 16. There are exactly 100 barbers operating in the market in the short run. The daily market demand curve for buzz cuts is D(p) = 1600 - 50p. What is the short run equilibrium price in the Fort Hood market for buzz cuts? Op 20 Op 10 Op=16 Op=6 Question 2 The city of Fort Hood has a thriving perfectly competitive market for buzz cuts. The short run daily cost function for every buzz cut barber is CS (y) = 25+y2 for y > 0 and CS (0) = 16. There are exactly 100 barbers operating in the market in the short run. The daily market demand curve for buzz cuts is D(p) = 1600 - 50p. What is the daily profit of each barber in the short run equilibrium in the Fort Hood market for buzz cuts? ○ $55 ○ $0 $128 ○ $39

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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