Question

19. Now you are told that in the short run there are 200 firms, including this one, in the industry, all with the same cost curves described above. Suppose that the demand curve facing the industry is given by the equation P= 125 - .075Q w here P is the price per unit and Q is the number of units demanded per day. The equilibrium price in the short run is: A) $25 B) $30 C) $35 D) $40 E) $45 F) $50 G) $55 H) $60 I) $65 J) none of the above