Suppose a stream is discovered whose water has remarkable healing powers. You decide to bottle the liquid
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Question:
Suppose a stream is discovered whose water has remarkable healing powers. You decide to bottle the liquid and sell it. The market demand curve is linear and is given as follows: P = 30 - Q. The marginal cost to produce this new drink is $3.
What price would this new drink sell for if the market was a Courot oligopoly? (Use formula for reaction function in the lecture slides)
0 | ||
$3 | ||
$12 | ||
$16.50 |
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