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6. Deriving the short-run supply curve Consider the competitive market for halogen lamps. The following graph shows the margiFor each price in the following table, use the graph to determine the number of lamps this firm would produce in order to maxSuppose there are 8 firms in this industry, each of which has the cost curves previously shown. On the following graph, use t

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The table is correct

The graph is correct

When there are 8 firms in the industry

Price Quantity Q-8 FIRMS
15 0 0
20 0 0
25 45000 360000
55 60000 480000
70 65000 520000
85 70000 560000

Industrys Short-Run Supply Demand Equilibrium PRICE (Dollars per lamp) 0 80 720 800 160 240 320 400 480 560 640 QUANTITY (Th

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