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Assume a market with demand Q = 16p^(--2) that is supplied by a monopoly with costs C(Q) = 6 + Q2/8.
1. Calculate the equilibrium price, output and monopoly profits.
2. What would be the equilibrium if the market was supplied competitively by firms, and each individual firm had the same costs?
illustrate and discuss the market structures competitiveand non competitive for price determination
I want you to solve problem in Macroeconomics.It is in the file attachment.
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how to calculate it
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