March 24, 2017

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Posts by Matt (help me)

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Suppose there are 1000 identical firms producing diamonds. Diamond miners receive the wage rate w. Assume that the short-run cost function for each diamond-producing firm is C(q) = wq + q2. a. If w = 10, what is the supply curve of an individual firm? What is the market supply...
September 5, 2012

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