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The inverse demand curve is given by p(y) = 10 - y, and a monopolist has a fixed supply of 4 units of a good


The inverse demand curve is given by p(y) = 10 - y, and a monopolist has a fixed supply of 4 units of a good available. How much will it sell and what price will it set? What would be the price and output in a competitive market with these demand and supply characteristics? What would happen if the monopolist had 6 units of the good available? (Assume free disposal.)

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