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All pricetaking firms in a competitive industry have access to the technology C(y) =8+12y+12y^2. Derive a typicalfirm's shortrun supply curve and show it on a
All pricetaking firms in a competitive industry have access to the technology C(y) =8+12y+12y^2. Derive a typicalfirm's shortrun supply curve and show it on a graph. Deriveiithe longrun supply curve for this industry based on free entry and pricetaking behaviour,and show this curve on a graph. What would determine the number offirms in the industry
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Principles of Economics
Authors: N. Gregory Mankiw
8th edition
1305585127, 978-1305971493, 978-1337516860, 1337516864, 978-0357539200, 978-1305585126
