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User In the X industry, each firm has fixed cost of $10. Faces the following cost curve: (quantity, marginal cost) (1,2); (2,4); (3,5); (4,7); (5,11);
User In the X industry, each firm has fixed cost of $10. Faces the following cost curve: (quantity, marginal cost) (1,2); (2,4); (3,5); (4,7); (5,11); (6,13) The industry-wide demand curve is given by the following: (price, quantity) (2,60); (4,48); (5,36); (7,24); (11,12), (13,0) What is the price of X? What quantity is produced by each firm? How many firms are in the industry
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