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Derive the firm’s supply correspondence for the output good as a function of the output price p. Illustrate it on the same graph you used for the previous part.
Economics Microeconomics analysis 1 Convex-concave costs Consider the 1-input, 1-output technology defined by the cost function f (z) = {(z+1)2— 1, z<1 8-V.Z — 5, z> 1 1. Fix the […]
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