How is the market price of a good determined? When the market for a product is in equilibrium, how will consumers value an additional unit compared to the opportunity cost of producing that unit? Why is this important?

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Q: Market structure

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Q: (1) (2) (3) (4) (5) Qd Qd Price 60 50 $12 80 90 70 60 11 70 80 90 70 10 60 70 100 80 9 50 60 110 90…

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