Suppose there are only two firms in a competitive market for a good. Firm 1's marginal cost curve is given by MC = 2.5 +0.5Q and the equation of firm 2's marginal cost curve is MC = 4 + QS. What is the equation of the supply function for this market? a) MC = 6.5 +1.5Q⁹ Ob) MC = 0.33Q³ +3 Oc) Qs = 3p-9 O d) P = 6.5 +1.5Qs

ENGR.ECONOMIC ANALYSIS
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Suppose there are only two firms in a competitive market for a good. Firm 1's
marginal cost curve is given by MC = 2.5 +0.5Q and the equation of
4+Q³. What is the equation of the
-
firm 2's marginal cost curve is MC
supply function for this market?
-
a) MC = 6.5 +1.5Q⁹
b) MC = 0.33Q⁹ +3
c) Q³ = 3p - 9
d) P = 6.5 +1.5Qs
Transcribed Image Text:Suppose there are only two firms in a competitive market for a good. Firm 1's marginal cost curve is given by MC = 2.5 +0.5Q and the equation of 4+Q³. What is the equation of the - firm 2's marginal cost curve is MC supply function for this market? - a) MC = 6.5 +1.5Q⁹ b) MC = 0.33Q⁹ +3 c) Q³ = 3p - 9 d) P = 6.5 +1.5Qs
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