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HW 1 - Sol 2

# HW 1 - Sol 2 - ECON 425 100 HOMEWORK 1 SOLUTIONS(PART II 3...

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Unformatted text preview: ECON 425- 100 HOMEWORK 1 SOLUTIONS (PART II) 3) l‘fo Mo ‘10 50 I10 ﬁlo ’5?) fro 4) Suppose that market demand for a good is Q = 480 — 2p and there are two identical price taking firms (competitive fringe) each with marginal cost of MC = 120 + Q. Let there be another ﬁrm with a lower marginal cost (dominant firm) of MCd = 105 + Q. What will be resultant market supply and price? (This is a tedious one. Hint: draw a graph to keep you on track of what you should be doing.) So ‘l’iuoltié 3’40 380 «go ‘l/ New Ad W351“! raw 0F m-W( dam and . 39+ at +2) dwnm‘ 7% m (M MWWM 5” X> mm: l80~Q (We) '2_ “CA (031—6? R 3% ‘ 75‘ ":9 Q33?) Maj/k3» 4%” rhé mm!" diam! fv M {W04 Page: ~g .. [80—33 ~ /6?S‘ ...
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HW 1 - Sol 2 - ECON 425 100 HOMEWORK 1 SOLUTIONS(PART II 3...

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