Suppose that the demand in particular industry

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Suppose that the demand in a particular industry is given by Qd = 500 − 2P. When the market price in the industry is $50 per unit, total demand in the industry is _________. Furthermore, assume that the entire market consists of four firms that share the market equally. The HHI under these conditions is then _________.

400 units; 10,000

400 units; 2,500

225 units; 3,333.33

225 units; 1,600

Reference no: EM13898685

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