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Assume the industry demand for a product is P=1,000-20Q.

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Assume the industry demand for a product is P=1,000-20Q. Assume that the marginal cost of product is $10 per unit.;a. What price and output will occur under pure competition? What price and output will occur under pure monopoly (assume one price is charged to all customers)?

 

Paper#21346 | Written in 18-Jul-2015

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