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Amazon instant Video charges $4 per movie rental per day. If your demand curve for movie rentals is given by P = 16-3Q, where P is the rental price ($/day) and Q is the quantity demanded (movies per year), what is the maximum annual membership fee you would be willing to pay to join Amazon Instant Video? Draw a graph.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M941716

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