Question: Suppose that there are 9 rms. each which face an individual MC curve equal to: MC=3+Q If the market demand is also given by: Q=386-2p

Suppose that there are 9 rms. each which face an individual

Suppose that there are 9 rms. each which face an individual MC curve equal to: MC=3+Q If the market demand is also given by: Q=386-2p Then what is the nal market price {p*)? [Hintz The rst step here will be to correctly write out the market supply curve] Note: round your answers to two decimal places

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