What is the market equilibrium and price

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Reference no: EM131162411

There exists 10,000 firms in a market each with MC curve MC=2q

Where
Q = quantity of production (of the firm).

aggregate demand is: Q = 40000-5000P.

a) What is the market equilibrium and price?

b) What happens to the equilibrium price and quantity if one firm Drops out of the market for some exogenous reason?

Reference no: EM131162411

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