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Suppose we have many firms each with an individual supply curve of q = 2 P. Assume that firms have a
quasi-fixed cost of $4,000 (that is COST = 0 if they shut-down but COSTS = 4,000 + % q’ if they are open).
Individual demand is q = 300 – 3 P ts) (a) Let there be n = 500 firms and m = 1000 consumers. …
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