g Suppose there are 100 consumers with individual demand curves like the one in Question 1 and 10 producers with individual supply curves like the one in Question 1. Find the competitive equilibrium for this marke

Respuesta :

Answer:

The correct answer is "16".

Explanation:

The given question seems to be incomplete. Please find the attachment of the full query.

According to the question,

The supply per producer when there are overall 10 producers,

⇒ [tex]P(\frac{Y}{10} )=10+(\frac{Y}{200} )[/tex]

or,

⇒       [tex]Y=200P-2000[/tex]

The consumption per producer when there are overall 100 producers,

⇒ [tex]P(\frac{x}{100} )= 40-(\frac{2x}{100} )[/tex]

or,

⇒          [tex]x = 2000-50 P[/tex]

At equilibrium,

⇒ [tex]200P-2000=2000-50P[/tex]

On adding "2000" both sides, we get

⇒ [tex]200P-2000+2000=2000-50P+2000[/tex]

⇒                        [tex]200P=4000-50P[/tex]

                          [tex]250P=4000[/tex]

                               [tex]P=\frac{4000}{250}[/tex]

                                   [tex]=16[/tex]

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