A duopoly facen a market demand of p 150 -a Firm 1 han a constant marginal cost of MC-$40. Firm 2s constant marginal cost is MC - sa0. Calculate the output of each firm, market output, and price if thare is a collusive equilibrlum or (b) a Coumot equlibrium The colluslva equilibrkum occurs where q, equals and q, nquals O (Enter numeric responses using real numbers rounded to hwo decimal placea) Market output is The collusive equilibrium price is SN The Cournot-Nash equilbrium occurs whare q, equalsand a equals sjenbe Market output is Furthermore, the equilibrium occurs at a price of $
A duopoly facen a market demand of p 150 -a Firm 1 han a constant marginal cost of MC-$40. Firm 2s constant marginal cost is MC - sa0. Calculate the output of each firm, market output, and price if thare is a collusive equilibrlum or (b) a Coumot equlibrium The colluslva equilibrkum occurs where q, equals and q, nquals O (Enter numeric responses using real numbers rounded to hwo decimal placea) Market output is The collusive equilibrium price is SN The Cournot-Nash equilbrium occurs whare q, equalsand a equals sjenbe Market output is Furthermore, the equilibrium occurs at a price of $
Chapter1: Making Economics Decisions
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![A duopoly faces a market demand of p 150 -a Firm 1 has a constant marginal cost of MC-$40. Firm 2's constant marginal cost is MC - sa0. Calculate the
output of each firm, market output, and price if thare is (a) a collusive equilibrlum or (b) a Cournot equilibrium
The collusiva equilibrlum occurs where q, equals and q, equals (Enter numeric responses using real numbers rounded to two decimal placea)
Market output is
The collusive equilibrium price is SN
The Cournot-Nash equilibrium occurs where q, equalsand a equals
Market output is
Furthermore, the equilibrium occurs at a price of $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F85b618a7-061c-4acc-a0f5-de45b6eb9ca0%2F894f097f-8f27-4c9e-aea7-007e31f83dd4%2Fwck6ng_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A duopoly faces a market demand of p 150 -a Firm 1 has a constant marginal cost of MC-$40. Firm 2's constant marginal cost is MC - sa0. Calculate the
output of each firm, market output, and price if thare is (a) a collusive equilibrlum or (b) a Cournot equilibrium
The collusiva equilibrlum occurs where q, equals and q, equals (Enter numeric responses using real numbers rounded to two decimal placea)
Market output is
The collusive equilibrium price is SN
The Cournot-Nash equilibrium occurs where q, equalsand a equals
Market output is
Furthermore, the equilibrium occurs at a price of $
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