E202Exam2.8

E202Exam2.8 - Exam Two Solutions Chapter 6 1. The supply...

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Exam Two Solutions Chapter 6 12 1. 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. Graph the supply curve for each firm. 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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