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Consider a market of four (4) firms that produce the same thing. Market demand is P = 250 - Q and the marginal cost of

Consider a market of four (4) firms that produce the same thing. Market demand is P = 250 - Q and the marginal cost of production is $10. If firms compete through production, what will be the expected MARKET quantity and MARKET price?

Q = 48, P = $58

Q = 192, P = $58

Q = 120, P = $130

Q = 240, P = $10

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