1) A monopolist firm produces and sells good X. The demand for X is X= 24-P, where P is the price. If the firm opts to sell X= 14 units, then the firm should charge a price of and as a result, will earn revenue $ $

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Q: Part 1: Spatial Equilibrium The demand in market 1 is D₁ = 24 - P₁ The supply in market 1 is S₁ = -2…

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