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Consider a market with a single firm and the following cost function and demand curve. TC= 1000 - 200Q + 6Q^2 (MC=12Q-200), P=1000-2Q Suppose the
Consider a market with a single firm and the following cost function and demand curve.
TC= 1000 - 200Q + 6Q^2 (MC=12Q-200), P=1000-2Q
- Suppose the firm acts as a single price monopolist. What is the price, quantity, and profits of the firm? Show this situation with the appropriate graph.
- Suppose the firm decided to act as if it were in a perfectly competitive market. What is the market equilibrium price, quantity, and profits? Show this situation with the appropriate graph.
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Real Estate Principles A Value Approach
Authors: David C Ling, Wayne Archer
5th edition
77836367, 978-0077836368
