Description of this paper

The grime removal business in Beijing

Description

solution


Question

(b) The grime removal business in Beijing is a competitive industry. All grime removal operators have the cost function C = Q^2 + 4, where Q is the number of walls cleaned. Demand for grime removal in the city is given by Qd = 120 - P. What is the long-run equilibrium number of firms in this industry?

 

Paper#28004 | Written in 18-Jul-2015

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