(10 points) A college professor invents a new production technology for making vitamins. He decides not to patent it. Thus, it is available for…
Suppose that, instead, the market quantity demanded at a price of $1.33 is only 75,000. How many firms do you expect there to be in this industry? Review your answers to parts b, c, and d. Does the level of demand determine this industry’s market structure?
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