What will price and ouput be if there is no dominant firm

Reference no: EM13201676

(Requires Calculus) In the model of a dominant firm, assuming that the fringe supply curve is given Q= -1 + 0.2P, where P is market price and Q is output.
Demand is given by Q=11-p.

What will price and ouput be if there is no dominant firm? Now assume that there is a dominant firm, whose marginal cost is constant at $6. Derive the residualdemand curve that it faces and calculate ots profit-maximizing output and price.

Reference no: EM13201676

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