Solved

If a Competitive Market Has Three Firms with Marginal Costs

Question 80

Multiple Choice

If a competitive market has three firms with marginal costs of MC1 = Q1, MC2 = 0.50Q2, and MC3 = 2Q3 and faces a market price of $10, the total quantity supplied by all three firms is:


A) 15.
B) 20.
C) 25.
D) 35.

Correct Answer:

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