Table 17-4 Only two firms, ABC and XYZ, sell a particular product. The following table shows the demand carve for their product. Each firm has the same constant marginal cost of $8 and zero fixed cost Quantity Demanded (Units) Price (Dollars per unit) 28 26 24 22 20 18 16 14 12 10 8 0 5 10 15 20 25 30 35 40 45 50 6 55 4 60 2 65 0 70 tefer to Table 17-4. If this market were perfectly competitive instead of oligopolistic, what would the price be? 04314 Oh318 DER Total Revenue (Dollars) 0 130 240 330 400 450 480 490 480 450 400 330 240 130 0
Table 17-4 Only two firms, ABC and XYZ, sell a particular product. The following table shows the demand carve for their product. Each firm has the same constant marginal cost of $8 and zero fixed cost Quantity Demanded (Units) Price (Dollars per unit) 28 26 24 22 20 18 16 14 12 10 8 0 5 10 15 20 25 30 35 40 45 50 6 55 4 60 2 65 0 70 tefer to Table 17-4. If this market were perfectly competitive instead of oligopolistic, what would the price be? 04314 Oh318 DER Total Revenue (Dollars) 0 130 240 330 400 450 480 490 480 450 400 330 240 130 0
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: Firms In Competitive Markets
Section: Chapter Questions
Problem 7PA
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