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Suppose the market for tennis shoes has one domi- nant firm and five fringe firms. The market demand is Q = 400 - 2 P. The dominant firm has a constant mar- ginal cost of 20. The fringe firms each have a marginal cost of MC = 20 + 5q.
a. Verify that the total supply curve for the five fringe firms is Qf = P - 20.
b. Find the dominant firm's demand curve.
c. Find the profit-maximizing quantity produced and price charged by the dominant firm, and the quantity produced and price charged by each of the fringe firms.
d. Suppose there are 10 fringe firms instead of five. How does this change your results?
e. Suppose there continue to be five fringe firms but that each manages to reduce its marginal cost to MC = 20 + 2q. How does this change your results?
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1995 200 2000 302 1996 215 2001 320 1997 237 2002 345 1998 260 2003 360 1999 278 2004 382 Calculate a trend line, and forecast sales foe 2005. How confident are you of this forecast
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