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There are two types of firm in the plastic industry (the sellers are price taker). The total cost functions for the three types of firm
There are two types of firm in the plastic industry (the sellers are price taker). The total cost functions for the three types of firm are shown as follow:
=2500+100q1 +q12
=3200+2q22
There are 100 Type 1 firms and 120 Type 2 firms in the market. Graphically construct the long run market supply curve.
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