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Qd=15.0-0.2P where Qd is annual quantity demanded in millions of units and P is the wholesale price. Incurred cost of $60 million. Production cost is $5/unit.
(1) what is wholesale price,
(2) production annually,
(3) annual profit? Given this is a monopoly with an expiring patent in 30 days, what price and quantity will result once the competition emerges in this market?
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