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A competitive market is made up of 100 identical firms. Each firm has a short-run marginal cost ...

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A competitive market is made up of 100 identical firms. Each firm has a short-run marginal cost ...

A competitive market is made up of 100 identical firms. Each firm has a short-run marginal cost function as follows:
MC = 5 + 0.5Q,
where Q represents units of output per unit of time. The firm's average variable cost curve intersects the marginal cost at a vertical distance of 10 above the horizontal axis. Determine the market short-run supply curve. Calculate the price that would make 2,000 units forthcoming per time period. Note the minimum price at which any quantity would be placed on the market.

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Microeconomics

Edition: 8^th

Author: Pindyck

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corie Author

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Thank you, thank you, thank you!

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Smart ... Thanks!

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