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Assume that total market demand for the oil market is given by: QD = 200 - 2P. Assume further that the non-OPEC oil producers act

Assume that total market demand for the oil market is given by:

QD = 200 - 2P. Assume further that the non-OPEC oil producers act as a competitive fringe with a supply given by QS = P -12.5. The dominant firm marginal cost is given by MC = 10 + Q.

Derive the dominant firms residual demand function.

Please show the above answers graphically.

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