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Consider a competitive market where there are two types of firms, Type A and Type B, with total cost functions TCA(q) = 1+ 2q+ 92

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Consider a competitive market where there are two types of firms, Type A and Type B, with total cost functions TCA(q) = 1+ 2q+ 92 TCB(q) = 6+2q+392 (a) Derive the short-run supply curve for each firm type (b) What is the short-run market supply, if there are 10 Type A firms, and 6 Type B firms? (c) What is total quantity produced when p=5? (d) How does your answer at (c) change if we consider long run supply rather than short run? Here, assume again that p=5 and that there are 10 Type A firms and 6 Type B firms

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