Question: The demand function for an oligopolistic market is given by theequation, Q = 275 4P, where Q is quantity demanded and P is price(Note:

The demand function for an oligopolistic market is given by theequation, Q = 275 – 4P, where Q is quantity demanded and P is price(Note: inverse demand for the dominant firm here is P = 50 - .2Q).The industry has one dominant firm whose marginal cost function is:MC = 12 + 1.2QD, and many small firms, with a total supplyfunction: QS = 25 + P. In equilibrium, the total output of allsmall firms is _____

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

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...

The demand function for an oligopolistic market is given by the equation, Q = 200 - 4P, where Q is the market quantity demanded and P is price. The industry has one dominant firm and many small...

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:...

1. Conceptual Question Personnel Economics. Explain the difference between moral hazard and adverse selection. Discuss three examples of features of the labor market that can be explained as features...

.Answer these attachments. 10. EQUILIBRIUM (10 POINTS) The market demand function for widgets is QD = 100 2PD+10M where Q D denotes the quantity demanded, PD denotes the price of widgets, and M...

Scenario 3 : Suppose that a large firm is operating in two markets, the domestic market, and the foreign market. The inverse demand function in the domestic market is given by PD = 144 - 2QD, and the...

i (a) What is the relative price of xd in terms of xh from the prime ministers point of view? (b) Find the policy bundle that maximizes the prime ministers utility subject to the govern- ments budget...

A question about one of the models of an oligopoly - Reproduce 1 0 . 2 1 Assume that ( 1 ) in a purely oligopolistic industry there is one dominant firm that acts as the price leader and ten...

2 Scenario Food manufacturers in the small island nation of Autarka have complained that the cost of cardboard, used to produce the packaging for their products, is too high. The food manufacturers...

Question 2(1 point) If a monopolist sets her output such that marginal revenue, marginal cost and average total cost are equal, economic profit must be: Question 2 options: Zero Negative Positive...

Compare the conditional probability from Exercise 7.20 with the unconditional probability of dropping out of school.

Parents deposit $8,000 into a savings account at the end of each year for 22 years to help their child pay for college. The savings account pays 9% interest per year, compounded monthly. The child...

Fresh Food Farms ( FFF ) is a farm to fork operation. This means that they have a farm on property that they grow some of the food for their restaurant. Both the farm and the restaurant fall under...

Explain the different aspects of the cost of a programming language.

Calculate the missing values in problem. Assume in each case that the payment is made within the discount period. Invoice Amount credited amount ($) Credit terms Payment ($) ($) Balance owed ($)...

A concrete pile 20 m long having a cross section of 0.46 m 0.46 m is fully embedded in a saturated clay layer. For the clay, given: sat = 18 kN/m 3 , = 0, and c u = 80 kN/m 2 . Determine the...

Blood pressure is measured with a sphygmomanometer while the sound from the pulse is checked. Investigate how this works, list the range of pressures normally recorded as the systolic (high) and...

Are preferred shares automatically nonvoting?

Design a minimum-mass symmetric three-bar truss (the area of member 1 and that of member 3 are the same) to support a load P, as was shown in Fig. 2.9. The following notation may be used: Pu = P cos...

The Pinnacle Company is a U.S.-based manufacturer of furniture and appliances that offshored all of its actual manufacturing operations to Asia about a decade ago. It then set up distribution centers...

Blue Mountain Coffee Company produces various blends of Free Trade, organic specialty coffees that it sells to wholesale customers. The company imports 25 million pounds of coffee beans annually from...

Correcting errors relating to noncurrent assets The following errors were discovered in the books of the Tribute Company during the current year, before the books were closed as at 31 December. 1...