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In the recline chair industry (which is perfectly competive.), two different technologies of production exsist. These technologies exhibit the following total cost functions.

C1(q)=500+260q-20q^2+q^3
C2(q)=1000+145q-10q^2+q^3
Due to foreign competition, the market price of recling chairs has fallen to 110. In the short run,

Reference no: EM13555924

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