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Calculate the level of price

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A perfectly competitive industry consists of ten firms. Five firms have marginal costs given byMC = q + 1, the other five have marginal costs given by MC = q + 2. The demand curve is D =135 - 5P. Calculate the level of price, output and the amount supplied by each firm that arise inthe equilibrium. Provide a labeled diagram.

Reference no: EM131338895

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