Question 14

The table below shows the variations in price, total market demand, and the quantity supplied by the competitive fringe in a market where a large firm, calledMine EDX,dominates those in the competitive fringe of the market.

Price ($, per unit)	Total Market Demand (units, per plant, per day)	Quantity Supplied by the Competitive Fringe (units, per plants, per day)
98.94	67.50	23.63
92.75	90.00	27.00
86.56	112.50	36.56
80.38	135.00	47.25
74.19	157.50	55.13

First, compute the demand facing the dominant firm:Mine EDX. Then, compute the market share forMine EDXat each given price. On average,Mine EDXserves _____ percent of the total market demand. (Note: Enter your answer below using two decimal points).

Question 15

Consider the information in Question No. 14. The marginal cost being at $40,Mine EDXproduces ______ units (per plant, per day) to maximize its profit. (Note: Enter your answer below using two decimal points).

Question 16

Consider the information in Question No. 14. The marginal cost being at $40,Mine EDXcharges its customer ______ dollars (per unit) to maximize its profit. (Note: Enter your answer below using two decimal points).