9.14. A perfectly competitive industry consists of two types of firms: 100 firms of type A and 30 firms of type B. Each type A firm has a short-run supply curve sA (P) 2P. Each type B firm has a short-run supply curve sB (P) 10P. The market demand curve is D (P) 5000 500P. What is the short-run equilibrium price in this market? At this price, how much does each type A firm produce, and how much does each type B firm produce?
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Home » Business » 9.14. A perfectly competitive industry consists of two types of firms: 100 firms of type A and 30 firms of type B. Each type A firm has a short-run supply curve sA (P) 2P. Each type B firm has a short-run supply curve sB (P) 10P.