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Now suppose the government breaks up Getwidgit's mou0poly, and assigns the 100 plants to 100 small rms. Each rm i = 1, 2,...,100 now has
Now suppose the government breaks up Getwidgit's mou0poly, and assigns the 100 plants to 100 small rms. Each rm i = 1, 2,...,100 now has the cost function 1 ads) = g9? + car These rms act as perfect competitors in the widget market. (vi) Find each rm's supply function, and the (competitive) industry supply function. (vii) Find the competitive equilibrium price and total quantity
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