Always Round Tire is the only producer of tires for the new British import,the Maxi Copper.Demand for a set of four tires is P = 800 - 5Q while the cost incurred by the firm is MC = 15Q.What would be the monopoly price and quantity? What would happen to price and quantity if the market was perfectly competitive (assuming the same costs)?

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The Answer of Always Round Tire is the only producer of tires for the new British import,the Maxi Copper.Demand for a set of four tires is P = 800 - 5Q while the cost incurred by the firm is MC = 15Q.What would be the monopoly price and quantity? What would happen to price and quantity if the market was perfectly competitive (assuming the same costs)?

Always Round Tire Is the Only Producer of Tires for the New