Let there be two groups of sellers with the inverse supply function. P = 2 +9₁ Inverse supply for group I. There are 25 firms in the group. P=1+0.592 Inverse supply for group II. There are 50 firms in the group. Find the market supply and draw graph to show the supply curve. Also find the market equilibrium.

Let there be two groups of sellers with the inverse supply function. P = 2 +9₁ Inverse supply for group I. There are 25 firms in the group. P=1+0.592 Inverse supply for group II. There are 50 firms in the group. Find the market supply and draw graph to show the supply curve. Also find the market equilibrium.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter11: Profit Maximization

Section: Chapter Questions

Problem 11.11P

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