Find the net demand curve-facing industry a

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Reference no: EM1344213

Q. "Industry A is the dominant industry in a marketplace where industry demand is given by Qd = 48-4P. There are four "follower" Industries, every with long-run marginal cost given by MC= 6 + Qf. Industry A's long run marginal cost is 6.

a. Write the expression for the total provide curve of the followers (qs) as this depends on price. (Remember, every follower acts as a price taker.)

b. Find the net demand curve-facing industry A. Conclude A's optimal price also o/p. How much o/p do the other Industries provide in total?

Reference no: EM1344213

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