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Calculate the equilibrium price and quantity

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Reference no: EM131976357

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.

Reference no: EM131976357

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