Kindly help explain part E and F only. Thanks a lot. Consi der Hhe fallowing» The inverse femand function is givan by p= 30-@Cournet medel.where Q = E,+* Firm 13 marginal cost is $6lei=6). Fivm 2 uses a nemtechaulagyThere is nothat it's marginal cost is $3 (6=3).fixed cortSoThe fwo fims chooce thairand Compete onlyJame).Answer the follming puestions.O Derive Firm 1 amd Firm 2% vation furtions reupertivaly.o Solve Hhe Harh equilibrium ( ", q")O What is He equilibrinmlevel for eah firm.quenti tias simultaneculy(So it's aone- shot simultaneausonceprice and what is Hhe profitSuppore there isIim 2. Wlhat is the highert price that Firm I iswilling to paj for this newo Mow let's chauge the setup from Coumet campetitionto Bertrand Competitin, while maintaining all eftheraJAump tins. What is He equilibium price?O Suppon the fwe finms engage in Betrand (ompetitionWhat is the hijhut price that Fim 1 o millingfor He new feihnly?* market for the teihue lagy uped byto

e. In Bertrand competition firms compete in prices so the firm that sets the lowest price gets the…

O Cons i der Hhe following Coarnut medel. • The inverse femand function is given by p= 30-@ where Q = Et %3D Finm 1s marginal cest is $6(ci=6)- Fro 2 ases a ntw s. that it's margimal cost is $3 (6=3). fixed corf. Theve is no * The fwo fims chere thir quarti ties simultaneculy and Compete Jame). ' only (So its a one- shot simultamecus once Answer Hhe felloning puesfinns Derive Firm 1 nd Firm 2s veaitin functions. reupertivaly 5 Solve He Mash equilibivm (I", q) o What s He equilibrinm price and what is Hhe pafit level for eah fim. market for the te hulagy ured by price that Firm 1 is Suppou thare is a Iim 2. Wlhat is Hhe highest willing to paj for this new Now let's change the atup fan (omet Gapetiton to Bertrand (ampetitin, while maintaining all ether ayAamp tins. What iš He equilibium price? Suppon the Awo fims engaga in Batvand (ompetition What is the hijhest price that Frm 1 & for He new fechmly millng to pa

O Cons i der Hhe following Coarnut medel. • The inverse femand function is given by p= 30-@ where Q = Et %3D Finm 1s marginal cest is $6(ci=6)- Fro 2 ases a ntw s. that it's margimal cost is $3 (6=3). fixed corf. Theve is no * The fwo fims chere thir quarti ties simultaneculy and Compete Jame). ' only (So its a one- shot simultamecus once Answer Hhe felloning puesfinns Derive Firm 1 nd Firm 2s veaitin functions. reupertivaly 5 Solve He Mash equilibivm (I", q) o What s He equilibrinm price and what is Hhe pafit level for eah fim. market for the te hulagy ured by price that Firm 1 is Suppou thare is a Iim 2. Wlhat is Hhe highest willing to paj for this new Now let's change the atup fan (omet Gapetiton to Bertrand (ampetitin, while maintaining all ether ayAamp tins. What iš He equilibium price? Suppon the Awo fims engaga in Batvand (ompetition What is the hijhest price that Frm 1 & for He new fechmly millng to pa

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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