suppose there are two technologies for producing steel. under technology a, a firm’s short-run total cost curve is 1 2 ( ) 100 10 2 a stc q q q   (for which ( ) 100 a smc q q   ), and using technology b it is 2 () 2 6 b stc q q   ( () 4 b smc q q  ). assuming there are 100 firms using technology a and 400 using b, determine the short-run market supply curve. 1. Suppose there are two technologies for producing steel. Under technology A, a firm's short-run total cost1curve is STC,(q) =÷q² +100q+10 (for which SMC,(9)=q+100), and using technology B it is2STC,(q) = 2q² + 6 (SMC,(q)= 4q). Assuming there are 100 firms using technology A and 400using B, determine the short-run market supply curve.

In perfect competition:- supply curve is the rising portion of the marginal cost curve above the…

Answered: 1. Suppose there are two technologies…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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suppose there are two technologies for producing steel. under technology a, a firm’s short-run total cost curve is 1 2 ( ) 100 10 2 a stc q q q   (for which ( ) 100 a smc q q   ), and using technology b it is 2 () 2 6 b stc q q   ( () 4 b smc q q  ). assuming there are 100 firms using technology a and 400 using b, determine the short-run market supply curve.

1. Suppose there are two technologies for producing steel. Under technology A, a firm's short-run total cost
1
curve is STC,(q) =÷q² +100q+10 (for which SMC,(9)=q+100), and using technology B it is
2
STC,(q) = 2q² + 6 (SMC,(q)= 4q). Assuming there are 100 firms using technology A and 400
using B, determine the short-run market supply curve.

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