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Please see the attachment. 3. The monthly demand curve for Watches is: 0.9 = 1,500 100P QD = demand for Watches per month P =

Please see the attachment.

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3. The monthly demand curve for Watches is: 0.9 = 1,500 100P QD = demand for Watches per month P = price of Watches per month One firm's supply curve is: qs = 5 + 2P (all firms producing Watches have the same supply function) 3a. What is the price of Watches per month if the total supply from all firms is 500 Watches per month? 3b. How many Watches will each firm supply and how many firms are there? 3c. If 10 firms leave the market, calculate the new market equilibrium price and quantity

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