Consider a market of seven (7) equally-sized firms that compete through production. Market demand is P = 340- Q and each firm has a marginal cost of $20. What will be each INDIVIDUAL firm's quantity in this market?

Consider a merger that transforms the market in the previous question to six (6) firms with one leader among them. What will be the expected INDIVIDUAL LEADER and INDIVIDUAL FOLLOWER quantities?

QUESTION 12 Consider a market of seven (7) equally-sized firms that compete through production. Market demand is P = 340- Q and each firm has a marginal cost of $20. What will be each INDIVIDUAL firm's quantity in this market? O q = 20 O q = 40 O q = 160 O q = 45.7 QUESTION 13 Consider a merger that transforms the market in the previous question to six (6) firms with one leader among them. What will be the expected INDIVIDUAL LEADER and INDIVIDUAL FOLLOWER quantities? O q(1) = 160; q(f) = 32 O q(1) = 320; q(f) = 32 O q(1) = 160; q(f) = 26.7 O q(1) = 320; q(f) = 26.7