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(b) Consider that 2 agents make up the supply side of a market. Producer 1 's marginalcost is MC, = 5 + 0.5Q1, and producer
(b) Consider that 2 agents make up the supply side of a market. Producer 1 's marginalcost is MC, = 5 + 0.5Q1, and producer 2's marginal cost is MC2 = 5 + Q. Find and graph the equation for market-level marginal cost. (c) Consider that 3 agents make up the supply side of a market. Producer 1's marginal cost is MG, = 3 + 0.3Q1, and producer 2's marginal cost is MC2 = 4 + 0.6Qz, and producer 3's marginal cost is MC,=1 + 0.103. Find and graph the equation for market-level marginal cost.
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