Assume fifty years supply commodity Q at location I and fifty at location II. The cost...
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Assume fifty years supply commodity Q at location I and fifty at location II. The cost of producing output q; for the ith firm (in either location) is 0.5q7. The cost of transporting the commodity to the market from location I is 6 dollars per unit and from location II, 10 dollars per unit. Determine the aggregate supply function. Assume fifty years supply commodity Q at location I and fifty at location II. The cost of producing output q; for the ith firm (in either location) is 0.5q7. The cost of transporting the commodity to the market from location I is 6 dollars per unit and from location II, 10 dollars per unit. Determine the aggregate supply function.
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