Suppose the countries of Xania and Plutia share the world su…
Suppose the countries of Xania and Plutia share the world supply of water. Suppose that the marginal cost of bottling water is a constant at $4 per gallon, and the demand for water is described by the following demand schedule: Price Quantity $9 100 $8 200 $7 300 $6 400 $5 500 $4 600 $3 700 $2 800 If there were many suppliers of bottled water like there would be in perfect competition, what would be the price and quantity?