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Firm 1 throughâ€¦ Show more Consider a perfectly competitive market with 10 firms; Firm 1, Firm 2â€¦Firm 10. Firm 1 through Firm 9 have the same cost function given by C(qi)=2q^2, where q is the quantity produced by firm i. Firm 10 has a different cost function C(q10)= 3q^2.Let Q represent the aggregate output of all firms, Q=q1+q2+q3+q4+q5+q6+q7+q8+q9+q10 Consumersâ€™ aggregate inverse demand function is given by P(Q)=90-12Q 1. T/F Firms have an increasing returns to scale technology. Explain 2.Solve for the equilibrium price and quantities (P, q1, q2 %u2026 q10).What is the equilibrium price? a-1 b-4 c-3 d-10 e-9 f-1/2 3.What are the equlibrium quantities (q1, q2â€¦ ,q10)?. A-q1, q2â€¦ ,q10 = 2 B-q1, q2,â€¦,q9= 2 q10=1/2 c-q1, q2,â€¦. ,q9= 3/2 q10=1/2 d-q1, q2, â€¦ ,q9, q10= 3/2 e- q1, q2, â€¦ ,q9= 3/4 q10=1/2 f-q1, q2,â€¦. ,q9= 3 q10=1/2 g-none of the above 4. Does Firm 10 produce at all in equillibrium? Explain why? â€¢ Show less

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