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Consider a firm that is a monopolist in the domestic market facing a demand curve given by p = 100 - q, but can also sell in the world market where there is perfect competition and the market price is 60. The firm is a price taker in the world market. Now, if the cost function of the firm is C(q) = (1/2)q^2, how much would he sell in each market?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9473006

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