Answered: f there are two firms Atlas and Bowden…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If there are two firms Atlas and Bowden in this market with the total cost function TC = 500 + 10Q^2 and they engage in Cournot competition, what is each firm's equilibrium quantity, price, and profit? [NB: round quantities to nearest integer to find equilibrium quantity, price, and profit]

© or + ७००
10
12
P
२२०
200
180
160
140
120
100
TR
०
400
MR
।
400
३२०
720
960 240
1120
1200
1200
TC
500
540
660
860 100
MC
160 1140
80
O
२०
60
140
1500
180
1940 | 220
गू
-500
- 140
60
loo
-२०
- 300
-740

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