Milky Moo and Mega Cow are the only sellers of milk.Milky Moo's supply function is QsMMoo = 12P - 6 at prices above $0.50 and zero at prices below $0.50.Mega Cow's supply function is QsMCow = 9P - 3 at prices above $0.33 and zero at prices below $0.33.In this case,the market supply curve for milk is:
A) kinked at a price of $0.33.
B) kinked at a price of $0.50.
C) downward sloping.
D) an upward sloping straight line.
Correct Answer:
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A) the long run market
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Q40: Milky Moo and Mega Cow are the
Q41: Aggregate surplus:
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B)
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