Would you choose to enter this market?

You are a potential entrant into a market that previously has had entry blocked by the governmen Show more You are a potential entrant into a market that previously has had entry blocked by the government. Your market research has estimated that the inverse market demand curve for this industry is P ? 22500 ? 75Q where Q=Q1+Q2+Q3++Qn. You estimate that if you enter the market your own cost function will be Cy(Qy )=3000Qy . The government has invited your firm to enter the industry but it will require you to pay a one-time license fee of $100000. You do not know the cost functions of the firms presently in the market; however the price is now $16000.. Last year existing firms sold 87 units. Would you choose to enter this market? Explain. Most importanlty explain how to find MC = 15300 Show less

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