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Does the monopoly determine the price of the good or the quantity supplied?
Business Economics, Economics
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Lucinda buys a new gaming system for? $500. She receives consumer surplus of? $175 from the purchase. How much does Lucinda value her GPS? system?
Demand: Qd=900-2P+3Pa+0.4M+1.5A Supply: Qs=45500-0.5P Qd = Quantity demanded P = Price of Myvi car (in RM) Pa = Price of Produa Asia (in RM) M = Average consumer income (in RM) A = Promotional expenses Qs= Quantity deman ...
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