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Consider an industry with two firms, each producing an identical product. Total cost functions for the firms are given by TC 1 = 2q 1

Consider an industry with two firms, each producing an identical product. Total cost functions for the firms are given by TC₁= 2q₁and TC₂= 14q₂. Demand for the product is given by P= 50 - (q₁+q₂).

Should it ever be economically efficient to use aper serule? When would it be efficient?

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