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The industry demand curve for a particular market is: Q = 1800 - 200P. The industry exhibits constant long-run average cost at all levels of
The industry demand curve for a particular market is:
Q = 1800 - 200P.
The industry exhibits constant long-run average cost at all levels of output, regardless of the market structure. Long-run average cost is a constant $1.50 per unit of output.
1)what is the profit for pure monopoly market?
2) what is the total surplus under first degree price discrimination?
3) what is the total surplus under perfect competition?
4) what is the total surplus under pure monopoly?
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