1. Suppose the market demand for a commodity is Q = 12 - p and the short...

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1. Suppose the market demand for a commodity is Q = 12 - p and the short run total cost function is SRTC(Q) = Q2 + 1. a. If the firm represented here behaves as a perfectly competitive firm, find i. its equilibrium price and quantity; ii. its profit; iii. the consumer surpluses. b. If the firm represented here behaves as a monopoly, find i. its equilibrium price and quantity; ii. its profit; iii. the consumer surpluses

Posted Date: Jun 21, 2024 12:08 AM

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1. Suppose the market demand for a commodity is Q = 12 - p and the short...

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