market consists of a dominant firm and a number of fringe firms. The followings are the information about these firms. Total market demand: QALL=300 – (2.5) P The competitive fringe supply function (total): QF=2P-12 The dominant firms marginal cost function: MC = 12 + (1⁄2) QD.  a) What is the equilibrium price set by the dominant firm? ANSWER: P= 55.82            b) Calculate the total market demand at the price found in question 2(a). ANSWER: QALL= 160.45 c) How much

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