Question
An industry consists of a dominant firm with costs C(Qd) = 32Qd + Qd^2 and eight identical fringe firms, each with costs c(q) = 70q
An industry consists of a dominant firm with costs C(Qd) = 32Qd + Qd^2 and eight identical fringe firms, each with costs c(q) = 70q + 2q^2. Market demand is Q = 100 p. What is the equilibrium price and output of each of the firms?
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Economics Principles and Policy
Authors: William Baumol, Alan Blinder
13th edition
1305280595, 1305280598, 9781305465626 , 978-1305280595
