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Suppose that market demand for oil is given by P = 50 - Q where P is the price of oil in dollars per barrel

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Suppose that market demand for oil is given by P = 50 - Q where P is the price of oil in dollars per barrel ($/b), and Q is the quantity of oil in barrels (b). The demand is a result of horizontal summation of 10 individual demands by identical oil refineries. What is individual's refinery demand for oil? P = 5 - 0.1Q P = 50 - 10Q P = 5

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