00:01
For one, the dominant firm will produce the quantity where the market demand equals the sum.
00:05
So substituting in our given functions, we're going to get that q is equal to 30 minus 12p.
00:13
For number two, our total quantity is going to give us 22 minus 4p is equal to 30 minus 12p plus negative 8 plus 8p.
00:29
Solving for p, we're going to get that p is equal to 1, and substituting this in to our supply fringe equation, we're going to get 0.
00:39
For number 3, the market price in equilibrium is p is equal to 1.
00:45
For number 4, the linder index is going to be 1 minus 1 divided by 1, which is equal to 0.
00:52
For number 5, our hhi is going to be 30 minus 12 times 1 divided by 22 minus 4 times 1, which gives us 1...