Suppose the Market Demand Curve (D) in an Oligopoly Market

question 49

Multiple Choice

Suppose the market demand curve (D) in an oligopoly market characterized by a dominant firm and a fringe is given by Q = 25 - 2P.The fringe supply curve is given by QF = -1 + 0.3P.If the marginal cost of production for the dominant is $3, calculate the market price and total output produced by the dominant firm and the fringe.

• A)Q = 14.42 units and P = $8.64
• B)Q = 10.69 units and P = $7.15
• C)Q = 12.69 units and P = $6.5
• D)Q = 8.74 units and P = $5.15

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A lack of interest, enthusiasm, or concern towards emotional, social, or physical life.

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A parenting style characterized by high demands and low responsiveness, where parents exert high levels of control over their children with little reciprocal communication.

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Pertaining to employing intimidation or physical power to coerce someone into doing something or to ensure obedience.