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In a competitive industry each firm has total costs C = q2 + 25. Demand increases from D0 = 150 - 5p to D1= 300

In a competitive industry each firm has total costs C = q2 + 25. Demand increases from D0 = 150 - 5p to D1= 300 - 5p. Provide a pair of fully labelled diagrams showing "The Firm" and "The Industry" to outline the response to this increase in demand.

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