9.14. A perfectly competitive industry consists of two types of firms: 100 firms of type A and...
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9.14. A perfectly competitive industry consists of two types of firms: 100 firms of type A and 30 firms of type B.
Each type A firm has a short-run supply curve sA(P) ! 2P.
Each type B firm has a short-run supply curve sB(P) !
10P. The market demand curve is D(P) ! 5000 # 500P.
What is the short-run equilibrium price in this market?
At this price, how much does each type A firm produce, and how much does each type B firm produce?
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