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Assuming instead that the market depicted in Figure 8.1 is perfectly competitive, the equilibrium price and output would be: P 3 and Q 1 .P

Assuming instead that the market depicted in Figure 8.1 is perfectly competitive, the equilibrium price and output would be:

P₃and Q₁.P₄and Q₁.P₂and Q₂.P₁and Q₁.

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