What will be the price of new drink in the long run, Microeconomics

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What will be the price of new drink in the long run

Suppose Firm K developed a high energy sports drink and decides to bottle and sell it. The market demand curve is linear and is given as follows:

P = 30 - Q

The marginal cost to produce this drink is $3.

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

b) What is the monopoly price of this new drink?

c) What will be the price of this new drink in the long run, assuming the industry is a Cournot duopoly?

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Microeconomics: What will be the price of new drink in the long run

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Microeconomics: What will be the price of new drink in the long run

Reference No:- TGS065295

Have a Question? (oR Write a Review)

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Microeconomics: What will be the price of new drink in the long run

Reference No:- TGS065295

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