Business, 15.10.2019 23:00 Isaiahtate053

Anumber of stores offer film developing as a service to their customers. suppose that each store offering this service has a cost function (c) c(q)equals25plus0.40qplus0.0625q squared and a marginal cost (mc) of mc(q)equals0.40plus0.125q. if the going rate for developing a roll of film is $6.25, is the industry in long-run equilibrium? no . find the price associated with long-run equilibrium. the market will be in long-run equilibrium when the price is $ 2.90. (enter your response rounded to two decimal places.) suppose now a new technology is developed that will reduce the cost of film developing by 20 percent. assuming that the industry is in long-run equilibrium, how much would any one store be willing to pay to purchase this new technology? assuming that the market price remains at the above long-run equilibrium level, a firm would be willing to pay $ 13.28 for the new technology. (enter your response rounded to two decimal places.)

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Anumber of stores offer film developing as a service to their customers. suppose that each store off...

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