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Suppose the market demand for good x is:

P = 1000 - 5Q

And this good can be produced at constant MC = AC = $50.

Determine P, Q and profit level if the market is

a. Monopoly

b. duopoly ( Cournot model)

c. perfect competition.

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Kritika Krishnakumar
Kritika KrishnakumarLv10
28 Sep 2019

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