Firms have short-run supply curve with slope

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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 + ______

Reference no: EM131099860

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