Order the answer to: Firm A is the dominant firm in a market where

Assignment Help business-economics Order the answer to: Firm A is the dominant firm in a market where

business-economics

Order the answer to: Firm A is the dominant firm in a market where

Question Firm A is the dominant firm in a market where industry demand is given by QD = 48 – 4P. There are four “follower” firms, each with long-run marginal cost given by MC = 6 – QF. Firm A’s long-run marginal cost is 6. a. Write the expression for the total supply curve of the followers (QS) as this depends on price. (Remember, each follower acts as a price taker.) b. Find the net demand curve facing firm A. Determine A’s optimal price and output. How much output do the other firms supply in total?
Subject business-economics
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