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Market Equilibrium Assignment | Homework For You

a) Assume a market at equilibrium shown by the intersection of S1 and D1 at a price of P1 = $3 and at a market quantity of Q1 = 20,000. Assume also that there are 50 firms operating initially in this market. Assume that the diagram of the competitive firm above is representative of each individual firm in this market (each firm has a total …

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