The demand function for an oligopolistic market is given by the equation,Q = 180 - 4P,where Q is quantity demanded and P is price.The industry has one dominant firm whose marginal cost function is: MC = 12 + 0.1QD,and many small firms,with a total supply function: QS = 20 + P.
(a)Derive the demand equation for the dominant oligopoly firm.
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