Consider a hypothetical perfectly competitive market for identical lunch boxes supplied to Monash students. All firms have TC=200+\frac12q^2, and market demand is Q_D=600-10P. Firms face identical costs, and entry and exit are free in the long run. A permanent fixed licence fee raises cost to TC=450+\frac12q^2. Market demand remains Q_D=600-10P. After entry or exit has restored long-run equilibrium, how many firms operate?

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Consider a hypothetical perfectly competitive market for identical lunch boxes supplied to Monash students. All firms have TC=200+\frac12q^2, and market demand is Q_D=600-10P. Firms face identical costs, and entry and exit are free in the long run. Find the number of firms in the initial long-run equilibrium.

Please enter a number only. If your answer is a decimal, round it to no more than two decimal places. Do not include spaces, commas, letters, or special characters such as dollar signs.

Consider a hypothetical perfectly competitive market for identical lunch boxes supplied to Monash students. All firms have TC=200+\frac12q^2, and market demand is Q_D=600-10P. Firms face identical costs, and entry and exit are free in the long run. Initially there are 20 firms, each producing 20 at price 20. A fixed licence fee of 250 per firm raises each firm's cost to TC=450+\frac12q^2. In the short run, the number of firms remains 20, and the fee is unavoidable. Find the new short-run equilibrium price.

Please enter a number only. If your answer is a decimal, round it to no more than two decimal places. Do not include spaces, commas, letters, or special characters such as dollar signs.

Consider a hypothetical perfectly competitive market for identical lunch boxes supplied to Monash students. All firms have TC=200+\frac12q^2, and market demand is Q_D=600-10P. Firms face identical costs, and entry and exit are free in the long run. A fixed licence fee raises total cost to TC=450+\frac12q^2. With 20 firms in the short run, equilibrium price is 20 and each firm produces 20. Find the magnitude of each firm's loss; enter a positive number.

Please enter a number only. If your answer is a decimal, round it to no more than two decimal places. Do not include spaces, commas, letters, or special characters such as dollar signs.

A student with u(w)=\sqrt{w} considers an internship bonus lottery that leaves total wealth 49 with probability 1/2 and 121 with probability 1/2. Find the certainty equivalent.

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For a hypothetical campus-event shuttle service, demand is Q_D=120-2P_B and supply is Q_S=2P_S-20. A per-trip tax of 10 creates the wedge P_B-P_S=10. Find the price paid by riders, P_B, after tax.

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A new student-run tutoring service chooses Enter or Stay Out. Stay Out gives payoffs (0,10) to (Entrant, Incumbent). After entry, the incumbent chooses Fight, giving (-3,2), or Accommodate, giving (5,6). Find the entrant's payoff in the subgame-perfect equilibrium.

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In a hypothetical graduate job market, a high type earns 120 if recognised and 80 otherwise. A certificate has no productivity effect. It costs a high type 6 per unit and a low type 15 per unit. Low types produce output worth 80. If certificate level 4 identifies a worker as high type, find the high type's net gain from choosing level 4 instead of zero.

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Four students sharing a house near Clayton value a shared study-room whiteboard at 10, 8, 6, and 4. Its cost is 24, and all can use it once purchased. Find the net social benefit of buying the whiteboard.

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Two housemates trade meal vouchers X and printing credits Y. Both have utility U=X^{1/2}Y^{1/2}. Their endowments are (4,6) and (2,12). Let p_Y=1. Find the competitive-equilibrium price p_X.

Please enter a number only. If your answer is a decimal, round it to no more than two decimal places. Do not include spaces, commas, letters, or special characters such as dollar signs.