Suppose the city eliminates its restrictions on books stores

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Q. Elucidate how Many Book Stores? The city of Book burg initially allows one book store, which sells books at a price of $20 also an average cost of $11. Suppose the city eliminates its restrictions on books stores, allowing additional stores to enter the marketplace. According to an expert in music marketplace, "Every additional music store will decrease the price of books by $2 every book also increase the average cost of selling books by $1 every book." Predict the equilibrium number of books stores.

Reference no: EM1311720

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