The figure given below represents the total output and price produced in an oligopoly market characterized by a dominant firm and a fringe.SF represents the supply curve of the fringe, D is the market demand curve, DRES represents the residual demand curve of the dominant firm, MRRES represents the residual marginal revenue curve of the dominant firm, and MCD represents the marginal cost of the dominant firm.
-Refer to Figure .If the dominant firm decides to maximize the present value of his future profits and threatens a price war:
Definitions:
Cuticle
A protective and waxy or hard layer covering the epidermis of plants, insects, and some other organisms.
Trichomes
Small hairs or other outgrowths from the epidermis of plants, often serving as defense against herbivores and reducing water loss.
Photosynthetic Mesophyll
The layer of cells in a leaf where most photosynthesis occurs, rich in chloroplasts.
Gas Exchange
The process by which oxygen is taken in and carbon dioxide is released out, occurring in the lungs and tissues or in the cells and environment for organisms.
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