Question

14. Now you are told that in the short run there are 400 firms, including this one, in the industry, all 1 with the same cost curves described above. Suppose that the demand curve facing the industry is given by the equation P-44-.002Q where P is the price per unit and Q is the number of units demanded per day. The equilibrium price in the short run is: AVC=14 A) $14 B) $24 C) $26 D) $30 E) $33 F) $35 G) $36 ) 337 1 ) $38 ) none of the above