(See Solution) The table below shows the costs and demand for the Primrose Oil industry. (2 marks) If this were a perfectly competitive industry, what would

Question: The table below shows the costs and demand for the Primrose Oil industry. (2 marks)

If this were a perfectly competitive industry, what would be the price, output and total industry profit?
If, alternately, this were a monopoly industry, what would the price, output, and total profit?

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(See Solution) The table below shows the costs and demand for the Primrose Oil industry. (2 marks) If this were a perfectly competitive industry, what would

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