A market is served by a dominant firm and many smaller, Business Economics

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A market is served by a dominant firm and many smaller

A market is served by a dominant firm and many smaller firms. These smaller firms act as price takers. Market demand is given by: Q = 1,222 - 10P The combined supply of the smaller firms is Q = 37 + 30P. The dominant firm's marginal cost is MC = 2 + 0.04Q Find the total quantity produced by the smaller firms. Round your answer to one decimal.

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Business Economics: A market is served by a dominant firm and many smaller

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Business Economics: A market is served by a dominant firm and many smaller

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