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Business, 26.11.2019 00:31 babyduck0664

Using the same "pit market" information from day 2& 3 practice problems assume there are 12 buyers with the following wtp: 400, 500, 600, 700, 800, 900, 1000, 1100, 1200, 1300, 1400, 1500. however assume instead of 12 sellers there is one seller (a monopolist) that can produce up to 12 units with the marginal costs of production for each unit (wta): 600, 650, 700, 750, 800, 850, 900, 950, 1000, 1050, 1100, 1150. assume the monopolist has no fixed costs. 1. for the monopolist firm what is the equilibrium price and quantity in this market?

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