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There are N = 3 businesses in an oligopoly industry

There are N = 3 businesses in an oligopoly industry. The businesses produce identical products and have the same marginal cost of MC = 25 dollars. If the market elasticity of demand is EM = −2, the equilibrium price in the industry isa.50 dollarsb.35 dollarsc.30 dollarsd.25 dollars

 

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