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Assume that - irrespective of market structure- the market demand curve is described as Qd = 50-5P; the average total cost is described as ATC=3.
Assume that - irrespective of market structure- the market demand curve is described as Qd = 50-5P; the average total cost is described as ATC=3. Calculate market quantity, market price, and level of profit generated if the market in question were A: pure competition, B: Pure monopoly and C. monopoly practicing first degree price discrimination
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