a) Consider 2 firms competing on price choice and facing the following market demand functions: q1 = 72 – 3p1 + 2p2 92 = 72 – 3p2 + 2p1 Each firm faces a fixed cost of 10 (TC = 10, TC2 = 10 ) and marginal cost of 0.

a) Consider 2 firms competing on price choice and facing the following market demand functions: q1 = 72 – 3p1 + 2p2 92 = 72 – 3p2 + 2p1 Each firm faces a fixed cost of 10 (TC = 10, TC2 = 10 ) and marginal cost of 0.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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