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There are 100 bakeries producing bread at a neighborhood with 10,000 households. Each household's demand curve is given by p = 5 yD, where yD
There are 100 bakeries producing bread at a neighborhood with 10,000 households. Each household's demand curve is given by p = 5 yD, where yD refers to hundreds loaves of bread, and p is in dollars per loaf. Each bakery faces the same short-run and long-run cost function (:0!) = y2 + 4. a. Find market demand curve, individual rm supply curve, and SR industry supply curve
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