(9) Suppose the market for tennis shoes has one dominant firm and five fringe firms. The market demand is Q= 400 – 2P. The dominant firm has a constant marginal 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 Q, = 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.

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Financial Statements

Financial statements (or financial reports) are the formal records of the financial activities that are undertaken by a firm. They are convenient instruments used for analyzing a company’s financial position and performance. Financial ratios are created with the help of the numerical values that are derived from the financial statements. They give meaningful information about the financial performance of the company.