Consider market for cars. There are 6 consumers labeled I = 1 , 2 . . .
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Consider market for cars. There are consumers labeled I Every consumer want to buy one car. In addition each consumer I has willingness to pay equal to I There are two domestic producers of cars denoted A and B firms. Firm A can produce up to cars with a constant marginal production cost equal to Similarly firm B can produce cars with constant marginal cost of How many cars will be produced and traded in a competitive equilibrium?
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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