suppose a single firm produces all the output in a contestable market. The market inverse demand function p = 200 - 2Qand firm's cost function is C(Q) = 8Q

what shape is

graph b

step-by-step explanation:

one solution- graph a (clear intercepting point.)

no solution- graph b (they're parallel, there will never be a point of interception.)

infinite solutions- graph c (all points intercept.)

0 and 5 minutes

step-by-step explanation:

given that one morning eight buses arrive late by the number of minutes given below:

0 8 2 6 9 2 0 7 8

write these in ascending order

0   0 2 6 7 8 8 9

in the afternoon two more buses arrive at the bus stop say by x and y minutes late.

total number of buses = 10

median = average of 4th and 5th after arranging in ascending order

since 4th entry is 6, the values of x and y should be below 6

also given 0 is the mode so either x or y or both should be 0 because then only 0 gets the maximum frequency and hence mode

thus we have

0 0 0 2 6 7 8 8 9 and another unknown entry which is below 6.

since median is 3.5, we have the unknown entry to be 5 only because then only median =( 2+5)/2

thus the after noon buses were late by 0 and 5 minutes.