ECON106 San Jose State Managerial Economics Questions Response
The demand function for an oligopolistic market is given
by the equation, Q = 180 4P, where Q is quantity demanded and
P is price. The industry has one dominant firm whose marginal cost
function is: MC = 12 + .1QD, and many small firms, with a total
supply function: QS = 20 + P.
(a) Derive the demand equation for the dominant oligopoly firm.
(b) Determine the dominant oligopoly firm’s profit-maximizing output
and price.
(c) Determine the total output of the small firms.
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