In an industry, there are only three consumers, A, B and C and three firms X, Y and Z.
The demand functions for the three consumers are:
QA = 130 - 0.2P
QEB = 50 - 0.4P
OC = 70 - 0.4P - 0.05P^2
The supply functions for the three firms
are:
Qx = 100 + 0.5P
Q = 50 + 0.5P
Qz = 50 + 1.5P + 0.1P^2
Find the equilibrium price of the product.
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