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The semiconductor market consists of 100 identical firms, each with a short-run marginal cost curve SMC(Q) =

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The semiconductor market consists of 100 identical firms, each with a short-run marginal cost curve SMC(Q) = 4Q. The equilibrium price in the market is $200. Assuming that all of the firm's fixed costs are sunk, what is the producer surplus of an individual firm and what is the overall producer surplus for the market?
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Since an individual firm will supply where Assuming a firm ...View the full answer


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