Suppose that the market demand for a new drink is given by, Ask an Expert

Economics

Suppose that the market demand for a new drink is given by P = 30 – Q and the marginal cost to produce this new drink is $3.

Graph the demand curve, the MR Curve and marginal revenue cost

What is the monopoly price of this new drink?

What price would this new drink sell for if it sold in a competitive market?

What will be the price of this new drink in the long run if the industry is a Cournot duopoly?

What will be the price of this new drink in the long run if the industry is a Stackelberg duopoly?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91223609

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