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Homework answers / question archive / Consider the market for rocket jetpacks
Consider the market for rocket jetpacks. Suppose that the inverse market demand is: p= 100 – 20 And that MC = ATC = 20 Find the following. Write your numerical answer(s) in the appropriate blanks. DO NOT include units or dollar signs. No fractions accepted – use decimals if needed. Do NOT round or truncate. Do NOT include any extra spaces or text. Show all work in your work file. a) Find the competitive market output level: b) Find the monopoly market price: c) Find the consumer surplus under competition: d) Find the deadweight loss under monopoly: e) Find the profit under monopoly:
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