Question: 1.3. Use the same information as in Exercise 1. a. Derive the firms short-run supply curve. (Hint: You may want to plot the appropriate cost

1.3. Use the same information as in Exercise 1.

a. Derive the firm’s short-run supply curve. (Hint: You may want to plot the appropriate cost curves.)

b. If 100 identical firms are in the market, what is the industry supply curve?

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