3. There is a Competitive Industry '8= Each firm i's: Cast of Production C (8) = 10 + 10 g; ² Market Demand; 2 Bi - (a) n = 20 firms. There are Industry. the PRO i, Quantity produced by feier i. which tevenly ferius en is the short Roan Marginal Cost function Since the Supply Curve of a ferm SMC; = dCi 200i. doi :: funi Short - Run Supply function of is 208;! шие the ferms each finding out the market Supply Curve horixentally add the SMC Culues of all Judustry. 22/2/2018 1 S = n(208) S = 4008. [Market Suffly function"]

3. There is a Competitive Industry '8= Each firm i's: Cast of Production C (8) = 10 + 10 g; ² Market Demand; 2 Bi - (a) n = 20 firms. There are Industry. the PRO i, Quantity produced by feier i. which tevenly ferius en is the short Roan Marginal Cost function Since the Supply Curve of a ferm SMC; = dCi 200i. doi :: funi Short - Run Supply function of is 208;! шие the ferms each finding out the market Supply Curve horixentally add the SMC Culues of all Judustry. 22/2/2018 1 S = n(208) S = 4008. [Market Suffly function"]

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 7PA

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