Consider a market with demand given by Q=100-P. The market is perfectly competitive with 60 firms and all have same cost structure. They all have no fixed costs and a constant variable cost of USD 40. How do we get the market supply curve for this situation.
Consider a market with demand given by Q=100-P. The market is perfectly competitive with 60 firms and all have same cost structure. They all have no fixed costs and a constant variable cost of USD 40. How do we get the market supply curve for this situation.
Chapter9: Perfect Competition
Section9.1: The Theory Of Perfect Competition
Problem 3ST
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