Total revenue corresponding

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Q1. In your opinion, does the Houston Medical Center, in which many hospitals gather, represent an example of perfect competition, monopolistic competition, collusive oligopoly, or competitive oligopoly? Elucidate your answer in the language of economics..

Q2. Illustrate what is the expected annual demand also the total revenue correspond- ing to your recommended price?

Q3. A service station owner in Staten Island, New York, was worried that raising the price of gasoline would cause the quantity demanded to fall by so much that he would be in a worse situation than if he did not increase the cost. If raising the price of gasoline what would be the cause of owner to receive less total revenue from the sale of gasoline also the demand for gasoline?

Reference no: EM1311790

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