Question: Suppose demand for a commodity is given by y = 100 p . There are only two possible factories that can produce this commodity, each

Suppose demand for a commodity is given by y = 100 p . There are only two possible factories that can produce this commodity, each with cost function: c_j= 50+ 2y_j, where j = 1, 2 denotes the factory. The total market output is the sum of the outputs from these two plants.

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