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microeconomics 9. (Jehle and Reny 4.6 (a)) A firm j in a competitive industry has total cost function s, (q) = aq + by, where

microeconomics

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9. (Jehle and Reny 4.6 (a)) A firm j in a competitive industry has total cost function s, (q) = aq + by, where a > 0, q is firm output, and b; is different for each firm. I( b, > 0 for all firms, what governs the amount produced by each of them? Will they produce equal amounts of output? Explain. INPICS

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