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Business, 23.07.2021 01:20 statonglenda
Consider a Cournot duopoly with the following inverse demand function: P = 96 - 2Q1 - 2Q2, where Q1 and Q2 are quantities produced by firms 1 and 2, respectively. The firms' marginal cost are identical and given by MCi(Qi) = 2Qi, where i is either firm 1 or firm 2. Based on this information firm 1 and 2's reaction functions are:.
a. MR1(Q1, Q2) = 100-2Q1-Q2 and MR2(Q1, Q2) 100-Q1-2Q2.
b. MR1(Q1, Q2) = 100-4Q1-2Q2 and MR2(Q1, Q2) = 100 - 2Q1 - 402.
c. MR1(Q1, Q2) = 100 - 2Q1 - 4Q2 and MR2(Q1, Q2) = 100 - 4Q1 - 2Q2.
d. MR1(Q1, Q2) = 24.5 - 0.5Q2 and MR2(Q1, Q2) = 24.5 - 0.5Q1.
Two identical firms compete as a Cournot duopoly. The demand they face is P = 90-Q. The cost function for each firm is C(Q_i) = 6Qi. Each firm earns equilibrium profits of:.
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Consider a Cournot duopoly with the following inverse demand function: P = 96 - 2Q1 - 2Q2, where Q1...
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