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There are 240 firms of type A and 180 firms of type B in a perfectly competitive market. On one hand, type A firm faces
There are 240 firms of type A and 180 firms of type B in a perfectly competitive market. On one hand, type A firm faces a fixed cost (all sunk) of $6 and average variable cost is 2q. On the other hand type B firm faces a fixed cost (all sunk) of $4 and the variable cost is 3q. Market demand function is given by Q=2400- 10P. Find the equilibrium price in the market
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The World Economy Geography, Business, Development
Authors: Frederick P. Stutz, Barney Warf
6th edition
321722508, 321722507, 978-0321722508
