Assume a market with demand q 16p--2 that is supplied by a, Ask an Expert

Economics

Assume a market with demand Q = 16p^(--2) that is supplied by a monopoly with costs C(Q) = 6 + Q2/8.

1. Calculate the equilibrium price, output and monopoly profits.

2. What would be the equilibrium if the market was supplied competitively by firms, and each individual firm had the same costs?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9605203

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