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  • Firm-A Firm-B Industry Y Y Y

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    Chris Resso
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    This document discusses the cost and output decisions of firms in a competitive industry. It shows the marginal cost curves of two representative firms and the industry supply curve derived from aggregating their individual supply curves. The optimal output is determined by the intersection of the industry supply curve and the market demand curve.

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    This document discusses the cost and output decisions of firms in a competitive industry. It shows the marginal cost curves of two representative firms and the industry supply curve derived from aggregating their individual supply curves. The optimal output is determined by the intersection of the industry supply curve and the market demand curve.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    8 views1 page

    Firm-A Firm-B Industry Y Y Y

    Uploaded by

    Chris Resso
    This document discusses the cost and output decisions of firms in a competitive industry. It shows the marginal cost curves of two representative firms and the industry supply curve derived from aggregating their individual supply curves. The optimal output is determined by the intersection of the industry supply curve and the market demand curve.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Y Firm-A

    Y Firm-B MC1

    Y Industry

    MC

    Price & Cost

    AC1

    MC2 AC2 P E D MR

    X1 Output

    X2 Output

    X Output

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