1.3. Suppose LightBright and Bulbs4Y ou were the only two suppliers of 60-watt lightbulb in Springfield. Draw...

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1.3. Suppose LightBright and Bulbs4Y ou were the only two suppliers of 60-watt lightbulb in Springfield. Draw the supply curve for the 60-watt lightbulb industry in Springfield from the following tables for the two companie . To create this "light bulb indu try supply curve," note that you'll add up the total number ofbulb that the industry will supply at a price of 1 (1 5 bulbs), and then do the same for the prices of$5, $7, and $10.

Price

$1

$5

$7

$10 Bulbs Supplied by Light Bright 10 15 25 35 Price of oil per barrel Bulbs Supplied by Bulbs4You 5

7 15 20

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Modern Principles Macroeconomics

ISBN: 124428

2nd Edition

Authors: Tyler Cowen ,Alex Tabarrok

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