Suppose an industry has 100 firms, each with supply curve P = 50 + 10Q. Furthermore, suppose the market demand curve is given by P = 200 - 0.9Q. How many units of output will be produced by a firm operating in this market with a MC = 130Q?
A) 2
B) 5
C) 0.70
D) It is impossible to answer with the information given
Correct Answer:
Verified
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