Question: The demand function for an oligopolistic market is given by the equation, Q = 200 - 4P, where Q is the market quantity demanded and

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 firms. The dominant firm's marginal cost function is: MC = 14 + 0.1Q_D. where Q_Dis the quantity produced by the dominant firm.The small firms have a total supply function as Q_S = 30 + P. Derive the demand equation for the dominant oligopoly firm and answer the questions below.

Determine the dominant oligopoly firm's profit-maximizing output (Q_D) and price (P). Answer: Q_D = and P = $
Determine the value of the total output of the small firms (Q_S). Answer: Q_S =

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