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37. Assume that the cost functions of two firms producing the same commodity are C1 - 2q1 + 20q1 - 29192 C2 - 395 + 60qz Determine the output levels of the firms on the assumption that each equates its p to a fixed market price of 240. Determine their output levels on the assumption equates its social MC to the market priceStep by Step Solution
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