1. The Sherman and Clayton Acts The Clayton Act of 1914 classifies several business practices as illegal, including price discri
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1) let P represent Price, and since the dependency is linear, the supply equation will take the following form:
A) Y- =
⇒ Y - 1,000 =
⇒ Y - 1,000 =
⇒ Y =
⇒ Y = , therefore,
P =
B) When Y = 1,130, the price would be:
⇒P =
⇒ P =
Therefore:
P = $194
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