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corie corie
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6 years ago
The marginal cost curves of six firms in an industry appear in the table below.  If these firms behave competitively, determine the market supply curve.  Calculate the elasticity of market supply at $5.

Firm   Marginal cost
Firm #1   3q1 + 2
Firm #2   3q2 + 1.5
Firm #3    3q3 + 2.5
Firm #4   3q4 + 2
Firm #5    3q5 + 1.5
Firm #6   3q6 + 2.5
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
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Bart_argBart_arg
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corie Author
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6 years ago
You make an excellent tutor!
jbarnett14
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Yesterday
Good timing, thanks!
spaghetti
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2 hours ago
Helped a lot
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