The demand function for an oligopolistic market is given by the equation, Q=1804P, where Q is the market quantity demanded and P is price. The industry has one dominant firm and many small firms. The dominant firm's marginal cost function is: MC=12+0.1QD. where QD is the quantity produced by the dominant firm. The small firms have a total supply function as QS=20+P. (a) Derive the demand equation for the dominant oligopoly firm. Use the variable QD as the dominant firm's quantity demanded. (Include a minus sign in your answer if necessary.) Answer: QD= 1+P (b) Determine the dominant oligopoly firm's profit-maximizing output ( QD ) and price. (Hint: Set MR - MC to zero by changing QD ) (Round your answers to a whole number.) Answer: QD= and P= (c) Determine the value of the total output of the small firms ( QS ). (Round your answers to a whole number.) Answer: QS= The demand function for an oligopolistic market is given by the equation, Q=1804P, where Q is the market quantity demanded and P is price. The industry has one dominant firm and many small firms. The dominant firm's marginal cost function is: MC=12+0.1QD. where QD is the quantity produced by the dominant firm. The small firms have a total supply function as QS=20+P. (a) Derive the demand equation for the dominant oligopoly firm. Use the variable QD as the dominant firm's quantity demanded. (Include a minus sign in your answer if necessary.) Answer: QD= 1+P (b) Determine the dominant oligopoly firm's profit-maximizing output ( QD ) and price. (Hint: Set MR - MC to zero by changing QD ) (Round your answers to a whole number.) Answer: QD= and P= (c) Determine the value of the total output of the small firms ( QS ). (Round your answers to a whole number.) Answer: QS=