# Every farmer in the perfectly competitive market for almonds have the same long run cost function,...

###### Question:

Every farmer in the perfectly competitive market for almonds have the same long run cost function, where q is pounds of almonds: C = 109 - 2q2 +(1/6)q3 (A) What is the market price for almonds per pound? (B) What is the number of farms in the market if demand is 10,000 pounds of almonds? (C) If there is a shortage of bees to pollinate the almond trees, what will happen to the supply of almonds, the number of firms and firm profits in the short run? (just explain – no specific numbers needed)

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