Solved: Assuming there are 100 firms using technology a and 400, Business Management

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Assuming there are 100 firms using technology a and 400

Suppose there are two technologies for producing steel. Under technology A, a firm's short-run total cost curve is STCa (q) = 1/2(q)^2 +100q +10 (for which SMCa (q) = q +100 ), and using technology B it is STCb(q) = 2q^2 + 6 (SMCb(q) = 4q). Assuming there are 100 firms using technology A and 400 using B, determine the short-run market supply curve.

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Business Management: Assuming there are 100 firms using technology a and 400

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