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There are two types of firms that produce a good in a competitive market. Type 1 has an individual supply function given by: qs=0.5P-1. Type
There are two types of firms that produce a good in a competitive market. Type 1 has an individual supply function given by: qs=0.5P-1. Type 2 has an individual supply function given by: qs=P-6. At what price is the kink in the market supply function?
(answer should be 6, please show how to get that)
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