Suppose the Demand Function in the Industry Is P =

question 75

Multiple Choice

Suppose the demand function in the industry is p = 100 - y and each firm has a constant marginal cost of $40. Suppose there is a monopoly firm and a potential entrant. The monopoly output is:

• A)50.
• B)30.
• C)40.
• D)60.

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Definitions:

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