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Suppose the Inverse Market Demand Is Given by P =

Question 33

Multiple Choice

Suppose the inverse market demand is given by P = 75 − 0.5Q.If the incumbent continues to produce 20 units of output,which of the following equations best summarizes the potential entrant's residual demand curve?


A) P = 65 − 2Q
B) P = 20 − 0.5Q
C) P = 150 − 2Q
D) P = 65 − 0.5Q

Correct Answer:

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