Question
The demand function for an oligopolistic market is given by theequation, Q = 275 4P, where Q is quantity demanded and P is price(Note:
The demand function for an oligopolistic market is given by theequation, Q = 275 – 4P, where Q is quantity demanded and P is price(Note: inverse demand for the dominant firm here is P = 50 - .2Q).The industry has one dominant firm whose marginal cost function is:MC = 12 + 1.2QD, and many small firms, with a total supplyfunction: QS = 25 + P. In equilibrium, the total output of allsmall firms is _____
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
