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2 Consider the market for X. Suppose it is competitive. Two types of firms produce X. Type 1 has a MC function given by
2 Consider the market for X. Suppose it is competitive. Two types of firms produce X. Type 1 has a MC function given by MC = (Q-10) + 100. Type 2 has a MC function given by MC2 = (Q2-8) + 100. Fifty firms of each type exist. a. Calculate and draw the short-run supply curve for a typical firm of each type, labeling carefully. (Hint:
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
