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Figure 14-9 In the figure below, panel (a) depicts the linear marginal cost of a firm in a competitive market, and panel (b) depicts the

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Figure 14-9 In the figure below, panel (a) depicts the linear marginal cost of a firm in a competitive market, and panel (b) depicts the linear market supply curve for a market with a fixed number of identical firms. Price (a) Firm T Price (b) Market MC MC $2 .00 $2.00 $1.00 $1.00 100 200 Quantity Q1 Q2 Quantity Refer to Figure 14-9. If at a market price of $1.75, 52,500 units of output are supplied to this market, how many identical firms are participating in this market? Select one: O a. 250 x Incorrect O b. 75 O c. 100 O d. 300

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