Calculate the dominant firm residual demand-marginal revenue

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Reference no: EM131238041

Short Run Fixed Entry/Exit

a. Calculate the dominant firm’s residual demand, and marginal revenue of its residual demand. Plot them on the graph. b. Calculate the equilibrium quantity and price set by the dominant firm. Also calculate the equilibrium quantity supplied by each competitive fringe firm. c. Now if we change the marginal cost for the dominant firm to be mcd = 50, redo the part (a) and (b) under this new marginal cost condition. d. Now if we change the marginal cost for the dominant firm to be mcd = 150, redo the part (a) and (b) under this new marginal cost condition.

Reference no: EM131238041

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