Question: A perfectly competitive market Suppose the cost function for the typical firm in a perfectly competitive market is C(Q) = 25 - 4Q + Q

A perfectly competitive market Suppose the cost function for the typical firm in a perfectly competitive market is C(Q) = 25 - 4Q + Q2. Forty such firms are in the market. Please answer the following questions

(a)What is the firm's short-run supply function? (0.9pts)

(b)What is the market supply function? (0.9pts)

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