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    price and output

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    1. Assume the industry demand for a product is: P = 1,000 - 20Q. Assume that the marginal cost of a product is $10 per unit.

    a. What price and output will occur under pure competition?
    b. What price and output will occur under pure monopoly ( assume one price is charged to all customers )?

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    https://brainmass.com/economics/monopolies/price-output-industry-demand-73062

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    1. Assume the industry demand for a product is: P = 1,000 - 20Q. Assume that the marginal cost of a product is $10 per unit.

    a. What ...

    Solution Summary

    This posting determines price and output.

    $2.19