Question
Price is set in a market by a dominant firm price leader (L = Leader). Total Market Demand is P = 10,000-20*QT. The dominant firm
Price is set in a market by a dominant firm price leader (L = Leader). Total Market Demand is P = 10,000-20*QT. The dominant firm price leader’s (L = Leader or Dominant Firm) total cost is TCL = 50*QL + 1.5*QL2. The competitive fringe supply (F = Fringe) is SF = PL = 100 + 2QF. Determine the quantity that will be produced and sold by the Fringe Firms. The Fringe Firms’ quantity = ____?
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Market demand P1000020QT or QT10000P20 Supply P1002QF or ...
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
