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Assume a perfectly competitive industry consisting of two types of firms: 25 firms of type_4 and 50 firms of type B. The short-run supply curve
Assume a perfectly competitive industry consisting of two types of firms: 25 firms of type_4 and 50 firms of type B. The short-run supply curve of type A firm is SA (P) = 10p The short-run supply curve of type B firm is SB (P) = 5p The Walrasian market demand curve is x(p) = 3600 - 400p a. Assuming that no more firms enter the industry, calculate the short-run equilibrium price b. Calculate the quantity supplied by firm type A c. Calculate the quantity supplied by firm type B
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