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For the following questions, use the following marginal cost and marginal value equations. Marginal cost/supply curve: p =130 + 10 Q Marginal value/demand curve: p
For the following questions, use the following marginal cost and marginal value equations. Marginal cost/supply curve: p =130 + 10 Q Marginal value/demand curve: p = 800 - 15 Q, Where, Q = quantity and p = price. Using the above equations, calculate the equilibrium price and quantity: (a) assuming perfect competitive market, and (b) assuming monopoly market
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