Assume that the market for wheat is perfect competitive
Assume that the market for wheat is perfect competitive, with demand curve P = 5000 - 0.01QD and a supply curve P = 1+0.1QS. Each identical wheat producer has a total cost curve given by T C = 1+Q+Q2 which results in marginal cost of MC = 1 + 2Q.
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assume that the market for wheat is perfect competitive with demand curve p 5000 - 001qd and a supply curve p 101qs
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