Economics 1st Edition by Dean Karlan,Jonathan Morduch

تمرين 17

Suppose an industry consists of many firms with identical cost structures, represented by the typical individual firm" in panel A of Figure 13P-4. Price is P 1. With the aid of panel A, draw the shortrun market supply curve in panel B, and show the firm and market output quantities at the equilibrium price in each panel. Label the firm output q1 and the market output Q 1.