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Essay

A QUICK REVIEW (AND EXAMPLE) OF PERFECT COMPETITION

Essay specific features

 

Issue:

Business

 

Written by:

Granville G

 

Date added:

January 12, 2016

 

Level:

College

 

Grade:

B

 

No of pages / words:

1 / 270

 

Was viewed:

7356 times

 

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Essay content:

Therefore, every firm has the same costs'.no one has a special technological or cost advantage). In this function, q is the amount of output by the individual firm. That means that the marginal cost (or MC) function is MC = 10 + 2q. There are 100 firms in this industry. As we remember from first year, the marginal cost curve of the individual firm tells us how much that firm will be willing to supply at different possible prices...
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Therefore, every firm has the same costs'.no one has a special technological or cost advantage). In this function, q is the amount of output by the individual firm. That means that the marginal cost (or MC) function is MC = 10 + 2q. There are 100 firms in this industry. As we remember from first year, the marginal cost curve of the individual firm tells us how much that firm will be willing to supply at different possible prices...
displayed 300 characters

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