Business, 10.09.2019 00:10 goofy44

The "deadweight losses in the food and tobacco industries" application shows that the deadweight loss as a fraction of sales varies substantially across industries. one possible explanation is that the number of firms (degree of competition) varies across industries. show how the deadweight loss varies in this market as the number of firms increases from one to three. recall that demand is qequals339minusp, with a constant marginal cost of $147. further, recall that the price with one firm is $243 (and market output is 96) and that the price with three firms is $195 (and market output is 144).

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