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The Lamp Company estimates the following demand function for its oldstyle oil lamps Q = 120, 000 10, 000P. The firm's fixed costs are EB

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The Lamp Company estimates the following demand function for its oldstyle oil lamps Q = 120, 000 10, 000P. The firm's fixed costs are EB 12, 000 and variable costs are $1.50 per lamp. a) Write an equation for the total revenue function b) Specify the marginal revenue function. 0) Write an equation for the total cost function. (1) Specify the marginal cost function. e) Write an equation for total prots. What are total prots? f) What model is assumed? When one automaker begins offering low cost financing or rebates, others tend to do the same. What two oligopoly models might offer an explanation of this behavior

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