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Suppose that the market demand for mountain spring water is P = 1200 Q. Mountain spring water can be produced at no cost. A. What is the profit maximizing level of output and price of a monopolist? B. What level of output would be produced by each firm in a Cournot duopoly in the long run? What will the price be? C. What will the level of output and price in the long run if this industry were perfectly competitive?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9280704

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