Question: Question 5: A. A perfectly competitive market consists of 240 firms. The market demand curve is given by the equation Q = 590 -0.25 P the TC = 400 4Q 2Q2 for each firm in this market Calculate the market equilibrium price. B. A monopoly produce products in two plants, the marginal costs for the two plants are: MC= 3001 720 and MC: = 18Q2 360. ThePlease do clean and readable work (step by step)
