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Problem: Suppose that an industry consists of 10 identical firms. The total cost of each firm is T C = 1 2 q 2 +W q, where q is the individual firm output and W is the wage rate paid to workers. Also suppose that the wage rate is proportional to total industry production: W = 1.9Q, where Q is total industry production. Denote the price of output by p.
Required:
Question 1: Find the industry supply curve (short run).
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q.fuji konica agfa and 3m. from a technical viewpoint there was little difference in the quality of color film produced
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