ECON 705 Module 5 Assignment
Suppose the market demand and supply functions are QD= 220 – 1.6P and QS= 4P – 116.You have just graduated and moved to this city; as a new MBA and an entrepreneur, you areconsidering entering the market for this product.
- Determine the equilibrium price and quantity in this market.
- You’ve researched and found that most firms in the market currently experience costssuch that TC = 30 + 65Q – 14Q2+ 2.4Q3. Determine whether or not you should enter thismarket. Use graphs to support your answer.
- Due to unforeseen delays, you don’t enter the market. However, a year later the marketsupply has changed to QS= 4P – 60. Are you surprised at this shift in supply?
- Given the new supply conditions, determine whether or not you should enter the market.
[place-order]
ECON 705 Module 5 Assignment
