Exam Two SolutionsChapter 6121. The supply curves for the only two firms in a competitive industry are P = 2 Q and P = 2 + Q ,where Q is the output of firm 1 and Q is the output of firm 2. Graphthe supply curve for eachfirm. What is the market supply curve for this industry?Answer: The market supply curve (right) is the horizontal summation of the supply curves of the
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This note was uploaded on 02/20/2012 for the course ECON 202 taught by Professor Brightwell during the Spring '08 term at Texas A&M.