Question 2 Full explain this question very fast. An oligopolist's demand curve is P = 30 - Q for Q smaller than 10 and P = 36 -1.60 for Qgreater than or equal to 10. Its marginal cost is 7. Graph this kinked demand curve and theassociated MR curve. What is the firm's optimal output? What if MC falls to 5?

The term "oligopoly" describes a situation in which a small number of producers collaborate, either…

An oligopolist's demand curve is P = 30 - Q for Q smaller than 10 and P = 36 -1.6Q for Q greater than or equal to 10. Its marginal cost is 7. Graph this kinked demand curve and the associated MR curve. What is the firm's optimal output? What if MC falls to 5?

An oligopolist's demand curve is P = 30 - Q for Q smaller than 10 and P = 36 -1.6Q for Q greater than or equal to 10. Its marginal cost is 7. Graph this kinked demand curve and the associated MR curve. What is the firm's optimal output? What if MC falls to 5?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Productive and Allocative Efficiency Analysis

Productive efficiency, also referred to as production efficiency is a term in economics describing the level at which a company is operating at its maximum capacity. Beyond this point, the entity will be unable to manufacture any additional goods without cutting down another product’s production level. This occurrence is an outcome of production happening alongside a Production Possibility Frontier (PPF).

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Question 2

Full explain this question very fast.

An oligopolist's demand curve is P = 30 - Q for Q smaller than 10 and P = 36 -1.60 for Q
greater than or equal to 10. Its marginal cost is 7. Graph this kinked demand curve and the
associated MR curve. What is the firm's optimal output? What if MC falls to 5?

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