In problem 2 if there are ten such firms then the industry, Ask an Expert

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In Problem 2, if there are ten such firms, then the industry marginal cost curve is MC(Q) = 3 + (8/10)Q. If this industry faces the demand curve in Problem 1, then the quantity produced is Q=35/9=3.89 at a price of P = 110/18 = 6.11. If the ten firms merge, then the resulting monopolist faces the demand curve in Problem 1 and would have MC(Q) = 3 + (8/10)Q. What quantity would this monopolist produce? What would be the price?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91704909

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