Calculate the price and quantity an Airline would select if it were in a Perfectly Competitive Industry. (Much of this

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answerhappygod
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Calculate the price and quantity an Airline would select if it were in a Perfectly Competitive Industry. (Much of this

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Calculate the price and quantity an
Airline would select if it were in a Perfectly
Competitive Industry. (Much of this is in
chapters 8 and 9)
TC = 10 + 4Q. Demand is P=20- 2Q
i—Draw the demand curve and the MC curve. (2
points)
ii— What is price and quantity for the Perfectly
Competitive Industry? (4 points)
iii—How much is Consumer Surplus? (3
Points)
iv—What is the profit for the Perfectly Competitive
Industry? (3 points)
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