Fruity Apples is the monopolist in the market for apples. The following equations describe the demand, the marginal cost, and the total cost, where Q is in pounds and P is price per pound. Demand: P = 93 - Q Marginal cost: MC = 3 + 2Q Total cost: TC = 3Q+Q². What would the equilibrium price and quantity be if this market was perfectly competitive? }}
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![Fruity Apples is the monopolist in the market for apples. The following equations describe the demand,
the marginal cost, and the total cost, where Q is in pounds and P is price per pound.
Demand: P = 93 - Q
Marginal cost: MC = 3 + 2Q
Total cost: TC = 3Q+Q².
What would the equilibrium price and quantity be if this market was perfectly competitive?
P = $61 and Q = 32 pounds
P = $30 and Q = 63 pounds
P = $63 and Q = 30 pounds
P = $32 and Q = 61 pounds](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb6067c9d-fb2c-4092-a881-62c55a7b0279%2F355e29fa-c6e5-4a0d-97dc-1f4bdf7afed5%2Fbqzvxds_processed.jpeg&w=3840&q=75)
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