An industry has 1000 competitive firms each producing 50, Ask an Expert

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An industry has 1000 competitive firms, each producing 50 tons of output. At the current market price of $5, half of the firms have a short-run supply curve with a slope (change in quantity/change in price) of 1; the other half each have a short-run supply curve with slope 2.

The equation for the aggregate supply curve is Q_____= P + ______

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91846583

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