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Suppose That There Are 1,000 Firms in a Perfectly Competitive

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Suppose that there are 1,000 firms in a perfectly competitive industry, each with a short-run total cost curve given by TC = 800 + 8Q + 0.1Q2 and marginal cost curve given by MC = 8 + 0.2Q. Suppose that there are 1,000 firms in a perfectly competitive industry, each with a short-run total cost curve given by TC = 800 + 8Q + 0.1Q<sup>2</sup> and marginal cost curve given by MC = 8 + 0.2Q.

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