Reference no: EM13218900
A competitive industry consists of 6 type A firms and 4 type B firms . Each firm of type A operates with the supply curve
\(Q^{Supply}_{A} = ^{^{-} 10+ P, when P > 10}_{0, when P < 10}\)
Each Firm of type B operates with teh supply curve:
\(Q^{Supply}_{A} = 2P , for P greater than or equal to 0\)
a) suppose the market demand is
\(Q^{Demand}_{Market} = 108 - 10P\)
At the market equilibrium, which firms are producing, and what is the equilibrium price?
b) suppose the market demand is
\(Q^{Demand}_{Market}= 228 -10P \)
equilibrium, which firms are producing, and what is the equilibrium price?
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