Assume that the market for bottled polar iceberg water is
perfectly competitive, with market inverse demand given by ? ?(?) =
50 − 0.005?, price measured in dollars per bottle, and ? measured
in hundreds of bottles. The short-run marginal cost curve for a
typical bottled polar iceberg water producing firm is ??? (?) = 5 +
0.025?? , with ??? in dollars per bottle and ?? in hundreds of
bottles. 1.a. If there are 50 identical firms, determine the...