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Consider two firms out of a competitive industry. They have the following technologies: C 1 ( y ) = y 2 + 2 y ; C 2 ( y ) = 1 . 5 y 2 + 3 y .
Consider two firms out of a competitive industry. They have the following technologies: C1(y) = y2 + 2y; C2(y) = 1.5y2 + 3y. Show these firms' individual supply functions on a clearly-labelled graph. Construct an aggregate supply function for these two firms on your graph.