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 = ____?

Answer rating: 100% (QA)

Market demand P1000020QT or QT10000P20 Supply P1002QF or ... View the full answer