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1. Consider the MONOPOLY depicted where demand is given by Pb = 82 - 4 Qb and the Monopolist's MC = 35. What price would prevail if the monopoly was broken up into a competitive industry? Price ($) Answer: your answer $ 90 $80 $ 70 $ 60 $ 50 $ 40 $30 $20 Submit Origin Demand Marg. Rev. Mon. Eqm MC $10 $0 5 10 Quantity 15 20 25

1. Consider the MONOPOLY depicted where demand is given by Pb = 82 - 4 Qb and the Monopolist's MC = 35. What price would prevail if the monopoly was broken up into a competitive industry? Price ($) Answer: your answer $ 90 $80 $ 70 $ 60 $ 50 $ 40 $30 $20 Submit Origin Demand Marg. Rev. Mon. Eqm MC $10 $0 5 10 Quantity 15 20 25

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter14: Monopoly
Section: Chapter Questions
Problem 3QR
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1. Consider the MONOPOLY depicted where demand is given by Pb = 82 - 4 Qb and the Monopolist's MC = 35. What price would prevail if the monopoly was broken up into a competitive industry? Price ($) Answer: your answer $ 90 $80 $ 70 $ 60 $ 50 $ 40 $30 $20 Submit Origin Demand Marg. Rev. Mon. Eqm MC $10 $0 5 10 Quantity 15 20 25
Transcribed Image Text:1. Consider the MONOPOLY depicted where demand is given by Pb = 82 - 4 Qb and the Monopolist's MC = 35. What price would prevail if the monopoly was broken up into a competitive industry? Price ($) Answer: your answer $ 90 $80 $ 70 $ 60 $ 50 $ 40 $30 $20 Submit Origin Demand Marg. Rev. Mon. Eqm MC $10 $0 5 10 Quantity 15 20 25
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