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April 19, 2014

Homework Help: Economics

Posted by John on Friday, November 17, 2006 at 3:34pm.

Suppose that Neptune Music has the copyright to the latest CD of the heavy Iron Band. The market demand schedule for the CD is:

Q = 800 100P.

Symbolically, Q represents quantity demanded measured in thousands of CDs and P represents the price in dollars. Production requires a fixed cost of $100,000 and a constant marginal cost of $2 per CD produced.

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