(Answered) The market demand curve for a product is given belowqdnbsp

Engineering

The market demand curve for a product is given below:

QD = 250 - 0.5P(i)Assume that the market is supplied by a monopolist with a constant unit cost equal to $100. Calculate the equilibrium price and quantity.(ii)Now assume that the market is supplied by perfectly competitive firms and that the market supply curve is perfectly elastic at a price equal to $100. Calculate the equilibrium price and quantity.

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