Based on the information given, the number of boxes of generic corn flakes that will be sold is 6 units.
From the equation given, the demand for Corn Flakes is: P = 10 - Q while the supply of Kellogg's corn flakes is: P = 2 + Q.
Therefore, we'll equate both the demand and supply and this will be:
10 - Q = 2 + Q
Q + Q = 10 - 2
2Q = 8
Q = 8/2 = 4.
Therefore, P will be:
P = 10 - Q.
P = 10 - 4 = 6
When a generic company enters the market, selling generic Corn Flakes for $4, the demand will be:
P = 10 - Q
4 = 10 - Q
Q = 10 - 4 = 6
In conclusion, 6 units will be sold.
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