Suppose there are four firms that are each willing to sell one unit of a good. Each
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Question:
Suppose there are four firms that are each willing to sell one unit of a good. Each firm has a different minimum price that they are willing to sell? for: Firm A? $6, Firm B? $7, Firm C? $10, and Firm D? $12. If the market price is? $11 then the market supply for this good will be
A.
1 unit.
B.
2 units.
C.
3 units.
D.
4 units.
Related Book For
Industrial Organization Markets and Strategies
ISBN: 978-1107069978
2nd edition
Authors: Paul Belleflamme, Martin Peitz
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