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  1. Expert Answer
  2. This problem has been solved! See the answer
  3. Suppose market demand for printers is given by P-100 -q.There is a dominant firm (price leader) with marginal cost curve of MCp-8 In addition, there are 4 small firms, each with a marginal cost curve of 65) In equilibrium, the dominant firm (price leader) will produce the market equilibrium price will be printers and a) 33; S50 b) 33; $33 c) 50; $50 d) 50; S33 66) In equilibrium, what is the total quantity of printers sold in the market? a) 50 b) 57 c) 58 d) 67 67) Suppose that more small firms enter the market for printers. The equilibrium price will then be a) Lower than before entry b) Higher than before entry c) The same as before entry d) Not enough information has been given to answer this question
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