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A consulting cinimpanxuI estimated market demand and supplyI in a perfectly competitive industry and obtained the following resulte: Q Q; = 240. 000...

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Screen Shot 2018-04-04 at 7.43.39 PM.png

Screen Shot 2018-04-04 at 7.43.39 PM.png

A consulting cinimpanxuI estimated market demand and supplyI in a perfectly competitive industry and obtained the following resulte:
Q
Q; = 240. 000 + 5.00013 — 1mm}; 2 25.000— 5.DOOP+ 25M a. , a
where P ls price, M is income, and P1 is the price of a k1e1ur input. The forecasts. for the next year are j‘I/f = $15 000 and P = $20 Average variable cost
9 I ' is estimated to be L—lii’.‘ l-l (IUOE‘ltj'I-(J.lJ'iJO'U(JZr;J2 Total fixed cost will be $5,909 next year. What is the price forecast for next year?
0 $12 0 $29
0 $60
0 $63

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