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Pete produces virtual reality headsets. Over time, Pete finds himself in a perfectly competitive market, where each firm faces a marginal cost of $200, and
Pete produces virtual reality headsets. Over time, Pete finds himself in a perfectly competitive market, where each firm faces a marginal cost of $200, and the inverse demand faced by the market is P = 1,000 4Q. At equilibrium, consumer surplus for the market is: $20,000. $0. $40,000. $80,000
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