Determine oligopolist profit maximizing output and price

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Reference no: EM131387139

The demand function for an oligopolistic market is given by the equation, Q = 180 - 4P. The industry has one dominant firm whose marginal cost function is: MC = 12 + .1Qd, and many small firms, with a total supply function: Qs = 20 + P.

a) Derive the demand equation for the dominant oligopolist.

b) Determine the oligopolist's profit maximizing output and price.

c) Determine the total output of the small firms.

Reference no: EM131387139

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