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46 points in total. You have to state your reasoning clearly. No points will
be given to an un explained answer.
1.Product X is provided by a competetive constant-cost industry. The cost
funct
98
30 points in total. you have to state your reasoning clearly. No point will be
given to an unexplained answer.
1.(8 points) Which of the following circumstances might affect the price
charged by a
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33
1. Good Y is provided by a competitive increasing-cost industry. The total cost
function of manuffacturer i is:
TCi(q) = i^2 + q^2 , i = 1, 2, 3, .
where q denotes the quantity produced i