a) Demand in a competitive market is given by, P=110-.0001Qd. Supply is given by P=10+.0001Qs. What...

a) Demand in a competitive market is given by, P=110-.0001Qd. Supply is given by P=10+.0001Qs. What is Marginal Revenue in this market?(value)

b) Demand in a competitive market is given by, P=110-.0001Qd. Supply is given by P=10+.0001Qs. What is the market quantity?(value)

Expert Solution

Rahul Sunny answered 2 years ago

a) Demand in a competitive market is given by, P=110-.0001Qd. Supply is given by P=10+.0001Qs. What is Marginal Revenue in this market?

a) Demand in a competitive market is given by, P=110-.0001Qd. Supply is given by P=10+.0001Qs. What is Marginal Revenue in this market?b) Demand in a competitive market is given by, P=110-.0001Qd. Supply is given by P=10+.0001Qs. What is the market quantity?

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