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k i il' I a 500 Quantity Figure 3 20. Refer to Figure 3. Suppose a rm with market power faces the demand and costs

k i il' I a 500 Quantity Figure 3 20. Refer to Figure 3. Suppose a rm with market power faces the demand and costs shown above. What are the equilibrium prices and quantities in this market? a) P=70;Q=300 b) P=40;Q=300 c) P=45;Q=550 d) P=40;Q=600

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