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In Victoria, there is currently only one privately-owned provider of ultrasound services, whereas in Surrey there many private clinics compete to offer ultrasound services. Suppose
In Victoria, there is currently only one privately-owned provider of ultrasound services, whereas in Surrey there many private clinics compete to offer ultrasound services. Suppose the demand for ultrasound services is the same in both regions and is given by: P = 7,500 - 7Q. In both cases, the total cost of ultrasound services is TC(Q) = 7,000 + 500Q. a. In Surrey's competitive industry, how many ultrasound services will be sold?what will be the price per appointment?
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