Business, 27.11.2019 21:31 tadvet5685

Two firms produce a homogeneous product. let p denote the product's price. the output level of firm 1 is denoted by q_1, and the output level of firm 2 by q_2. the aggregate industry' output is denoted by q = q_1 + q_2. the aggregate industry demand curve for this product is given by p = 200 - 4q assume that the marginal and average cost for each firm is mc = ac = 20. solve for the monopoly/cartel equilibrium. find the output level of each firm assuming they divide the market equally, the market price, and profit per firm. solve for the cournot (nash) equilibrium. find the output level of each firm, the market price, and profit per firm. solve for the bertrand (nash) equilibrium. find the output level of each firm, the market price, and profit per firm. solve for the stackelberg (sequential-moves) equilibrium where firm one chooses quantity in the first stage and firm 2 chooses quantity in the second stage. find the output of each firm, the market price, and profit per firm.

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Two firms produce a homogeneous product. let p denote the product's price. the output level of firm...