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uppose the estimated market demand and supply (bottles/month) for a new product call hydro water are given by: Qd = -50P + 1000 Qs =

uppose the estimated market demand and supply (bottles/month) for a new product call hydro water are given by:

Qd = -50P + 1000

Qs = 100P - 500

whereQdis the market demand,Qsis the quantity supplied andPis price of a 1 liter of bottled hydro water. The market is assumed to be competitive.

s this equilibrium level of output efficient? Explain using the concepts of marginal benefit and marginal cost.

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