Summarize the potential entrants residual demand curve

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Reference no: EM13208928

Suppose the inverse market demand is given by P = 20 - Q. If the incumbent produces 8 units of output, which of the following equations best summarizes the potential entrant's residual demand curve?

P = 12 - 8Q

P = 20 - 12Q

P =20 - 8 Q

P = 12 - Q

Reference no: EM13208928

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