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If each of 100 firms in a competitive industry has the following...

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Asked by crodecker on coursehero.com

If each of 100 firms in a competitive industry has the following...

If each of 100 firms in a competitive industry has the following Marginal Cost function (i.e., firm supply function),

P = 10 +100Qi

What is the short-run industry supply function? (where lowercase subscript "i" is for the firm and uppercase "I" is for the Industry)

Question 14 options:


P = 100 +100QI


P = 10 +QI


P = 10 +100QI


P = 10 +10QI

Answer & Explanation

Solved by verified expert
Answered by palmoumita63 on coursehero.com

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Step-by-step explanation

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