True or False and explain the math In the market for widgets, there are 200 firms which each have a supply function of q@(p) = 2p - 8 and 100 firms which each have a supply function of qs(p) = p - 3. Therefore, the industry (aggregate) supply curve has a kink at P=$4 and Q=100.

True or False and explain the math In the market for widgets, there are 200 firms which each have a supply function of q@(p) = 2p - 8 and 100 firms which each have a supply function of qs(p) = p - 3. Therefore, the industry (aggregate) supply curve has a kink at P=$4 and Q=100.

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Chapter1: Making Economics Decisions

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Question

True or False and explain the math
In the market for widgets, there are 200 firms
which each have a supply function of q@(p) = 2p -
8 and 100 firms which each have a supply
function of qs(p) = p 3. Therefore, the industry
(aggregate) supply curve has a kink at P=$4 and
Q=100.

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