The industry in figure 13p-5 consists of many firm with


Problem

The industry in Figure 13P-5 consists of many firms with identical cost structures, and the industry experiences constant returns to scale.

a. Draw the short-run market supply curve.

b. Draw the long-run market supply curve.

103_Figure 13P-5.jpg

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Microeconomics: The industry in figure 13p-5 consists of many firm with
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