Question: Please help with this practice question. The market for sunglasses has one dominant rm, Luxottica, and 20 small firms. The total market demand curve is

Please help with this practice question.

The market for sunglasses has one dominant rm, Luxottica, and 20 small firms. The total market demand curve is given by QD = 270 0.5P. The total market supply curve for the 20 small rms is given by Q5 = 30 + 2.5P, and Luxottica has a constant marginal cost of $24 per sunglassi According to the price leadership model, what price will Luxottica choose to sell its sunglasses at, and how many will they produce and how many will the 20 small firms produce together? Price: $ Luxottica Quantity: sunglasses 20 small rms combined Quantity: sunglasses

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