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1. Consider a price-taking firm indexed by s, where s is the fraction of fixed costs that are sunk. Assume this firm has a supply

1. Consider a price-taking firm indexed by s, where s is the fraction of fixed costs that are sunk. Assume this firm has a supply function q's (p) = 0 if p 20v1 - s. Suppose there are two groups of firms. Group A consists of 10 firms that have s = 0.99 while Group B consists of 10 firms with tthat have s = 0.19. Finally, let aggregate demand be Q" (p) = 88 - P for p

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