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Question: 5 suppose there are only two firms in the market...

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5. Suppose there are only two firms In the market for a certaln good. Flrm 1s marginal cost equaton is MC aggregate supply equation for this market? 5/2 1/2QS and firm 2s marginal cost equation IS MC 4 QS. What is the as 2/3P - 133 as-3P-1In the following figure, the total willingness to pay for the 10 unit of the good Is Marginal Willingness to Pay 20 21 MWTP 10 O $200 O $12 O $20 O $160In the following figure the marginal cost of producing the 500th unit of output Is Marginal Cost of Production MC 550 -- 300 500 O $550 O $150,000 O $212.500 O S500

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