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A competitive industry composed of 300 firms is in a long-run equilibrium, supplying 2700 units with an equilibrium output price of $1. Firms within the

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A competitive industry composed of 300 firms is in a long-run equilibrium, supplying 2700 units with an equilibrium output price of $1. Firms within the industry are characterized by three types of technologies. 100 firms have STV C1(q) = q1, 100 firms STV C2(q) = 93/10, and 100 firms have STV C3(q) = =93 for 93 for 93 > 10. a. Graph the short-run market supply curve. b. Assume the market demand shifts, so the new market demand curve is Q = 1200 - 200p. What are the short-run equilibrium market output and price? What are the output of each type of firm

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