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Considering the same demand curve as in exercise 22, now let us allow for free entry and exit of the firms producing commodity X. Also

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Considering the same demand curve as in exercise 22, now let us allow for free entry and exit of the firms producing commodity X. Also assume the market consists of identical firms producing commodity X. Let the supply curve of a single firm be explained as q$ f= 8 + 3p for p 2 20 O for os p

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