Supply Curve Assignment | Homework For You
a) Plot and label the four industry supply curves generated by these firms if there are 1, 2, 3, or 4 firms operating in the industry.
b) If all of the firms had a cost structure such that if the price was below $3, they would be losing money, what would be the equilibrium price and output in the industry if the market demand was equal to D(p) = 6? How many firms would exist in such a market? Get Economics homework help today