If the on-campus demand för söda is as follows: Price (per can) $2.50 2.25 2.00 1.75 1.50 1.25 1.00 0.75 Quantity demanded (per day) 30 40 50 60 70 80 90 100 and the marginal cost of supplying a soda is $1.50, what price will studets end up pa Instructions: Enter your responses rounded to two decimal places. a. A perfectly competitive market? %24 b. A monopolized market?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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If the on-campus demand for soda is as follows:
Price (per can)
$2.50
2.25
2.00
1.75
1.50
1.25
1.00
0.75
Quantity demanded
(per day)
30
40
50
60
70
80
90
100
32
and the marginal cost of supplying a soda is $1.50, what price will students end up pa
Instructions: Enter your responses rounded to two decimal places.
a. A perfectly competitive market?
%$4
b. A monopolized market?
Transcribed Image Text:If the on-campus demand for soda is as follows: Price (per can) $2.50 2.25 2.00 1.75 1.50 1.25 1.00 0.75 Quantity demanded (per day) 30 40 50 60 70 80 90 100 32 and the marginal cost of supplying a soda is $1.50, what price will students end up pa Instructions: Enter your responses rounded to two decimal places. a. A perfectly competitive market? %$4 b. A monopolized market?
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