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3. Use the following supply and demand curves to answer Question 3. P = 50-1/200 P = 20 +3/205 a. What is the market equilibrium

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3. Use the following supply and demand curves to answer Question 3. P = 50-1/200 P = 20 +3/205 a. What is the market equilibrium quantity and price in this market under competition? b. What is the market equilibrium quantity and price in this market under monopoly? C. What is the value of deadweight loss due to monopoly? d. It is often said that under competition, there will be no incentive to advertise a product. Why is this true

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