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suppose the marginal cost of a television set is $100. This is constant and equal to the average cost of the television sets. The annual

suppose the marginal cost of a television set is $100. This is constant and equal to the average cost of the television sets. The annual demand for television sets is given by the following equation: Q=200,000-500P, where Q is the quantity sold per year and P is the price of the television sets. If the television sets are sold in a perfectly competitive market, calculate the annual number sold. Under what circumstances will the market equilibrium be efficient?

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