Find price and quantity in market and quantity of firm, Microeconomics

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Find price and quantity in market and quantity of firm

There are 10 firms in a competitive industry; each firm has a marginal cost of 10 +Q. The demand curve facing the industry is 100 -2Q.

a. Find the price and quantity in the market and the quantity of each firm
b. If the firms form a cartel, find the same.
c. At the price in b. How much would each firm have desired to produce, if they acted as competitors?

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Microeconomics: Find price and quantity in market and quantity of firm

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Microeconomics: Find price and quantity in market and quantity of firm

Reference No:- TGS058076

Have a Question? (oR Write a Review)

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Find price and quantity in market and quantity of firm

Reference No:- TGS058076

Recent Questions Asked Microeconomics

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