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I. Q.3. Market demand: P = 8000-y Perfect competition with market supply P = 500 + y. A. Find the market equilibrium price and
I. Q.3. Market demand: P = 8000-y Perfect competition with market supply P = 500 + y. A. Find the market equilibrium price and quantity. B. Find the profit maximizing quantity for a firm with cost function C = 100,000 + 200y + 2y. C. How much profit the firm would make? I. Q.3. Market demand: P = 8000-y Perfect competition with market supply P = 500 + y. A. Find the market equilibrium price and quantity. B. Find the profit maximizing quantity for a firm with cost function C = 100,000 + 200y + 2y. C. How much profit the firm would make?
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A To find the market equilibrium price and quantity we need to set the market demand equal to the ma...
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
