The Industry Demand Curve for a Particular Market Is

question 17

Essay

The industry demand curve for a particular market is:
Q = 1800 - 200P.
The industry exhibits constant long run average cost at all levels of output,regardless of the market structure.Long run average cost is a constant $1.50 per unit of output.Calculate market output,price (if applicable),consumer surplus,and producer surplus (profit)for each of the scenarios below.Compare the economic efficiency of each possibility.
a.Perfect Competition
b.Pure Monopoly (hint: MR = 9 - 0.01Q)
c.First Degree Price Discrimination

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Definitions:

Singularity

Singularity refers to a hypothetical future point in time at which technological growth becomes uncontrollable and irreversible, resulting in unforeseeable changes to human civilization.

Strategic Decisions

High-level choices made by an organization's leadership that set the direction and scope of the company over the long term.

Marketing Strategy

A comprehensive plan formulated to achieve the marketing objectives of an organization, which includes target market identification and applying the marketing mix effectively.