2. There are five firms in an industry and one of them is a dominant firm and this industry supplies nearly a homogeneous product. Market demand function for the production of all the five firms is...

Extracted text: 2. There are five firms in an industry and one of them is a dominant firm and this industry supplies nearly a homogeneous product. Market demand function for the production of all the five firms is given as QM= 100-2P. Combined supply function of four small firms is given as Qs=10+P. Total cost function for the dominant firm is given as TCD= 50+6QD+ 0.25QD i) ii) Calculate the price and quantity supplied by the four small firms together Derive the demand function for the dominant firm 111) Calculate the profit maximizing quantity and price for the dominant firm. iv) Calculate the total demand