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E202PracticeExam2.1

E202PracticeExam2.1 - Practice Exam Two Name Chapter 6 1...

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Practice Exam Two Name _____________________ Chapter 6 1 2 1. The supply curves for the only two firms in a competitive industry are P = 2 Q and P = 2 + Q , 1 2 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? 2. A price-taking firm makes air conditioners.
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