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The demand function for an oligopolistic market is given by the equation, Q=180-4P. the industry has one dominant firm whose marginal cost function is MC=12+0.1d, and many small firms, with a total supply function: Qs=20+P

a. derive the demand equation for the dominant oligopolist.
b. determine the oligopolist's profit maximizing output price.
c. determine the total output of the small firms

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M938541

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