(Steps Shown) Suppose Market Demand is given by the demand function: y=100-p. Suppose Marginal Cost is constant MC=0. Find the Market Equilibrium price, quantity,
Question: Suppose Market Demand is given by the demand function: \[y=100-p\] . Suppose Marginal Cost is constant MC=0. Find the Market Equilibrium price, quantity, and total profits to all firms in the market for each of the different market structures below.
- Monopoly
- Cournot Duopoly
- Pure Competition
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