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Part 1 ( Feedback See Hint Two Cournot duopolists compete in a market with inverse demand given by p = 92.00 - 20, where p is the per-unit price, q; is the output for firm i (either firm 1 or firm 2), and Q = 91 + 92. Both firms face constant marginal costs of $2 per unit. Assume no fixed costs. What is the optimal output for firm 1? 15.33 (Round to two decimals if necessary.) What is the optimal output for firm 2? 15.34 (Round to two decimals if necessary.) Part 214 × Feedback What is the equilibrium price in this market? $ 61.34 (Round to two decimals if necessary.) Part 3 * Feedback What is the profit for each firm? (Round to two decimals if necessary.) Firm 1 profit: $940.19 Firm 2 profit: $ 940.96 (Round to two decimals if necessary.) See Hint See Hint

Part 1 ( Feedback See Hint Two Cournot duopolists compete in a market with inverse demand given by p = 92.00 - 20, where p is the per-unit price, q; is the output for firm i (either firm 1 or firm 2), and Q = 91 + 92. Both firms face constant marginal costs of $2 per unit. Assume no fixed costs. What is the optimal output for firm 1? 15.33 (Round to two decimals if necessary.) What is the optimal output for firm 2? 15.34 (Round to two decimals if necessary.) Part 214 × Feedback What is the equilibrium price in this market? $ 61.34 (Round to two decimals if necessary.) Part 3 * Feedback What is the profit for each firm? (Round to two decimals if necessary.) Firm 1 profit: $940.19 Firm 2 profit: $ 940.96 (Round to two decimals if necessary.) See Hint See Hint

Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter15: Imperfect Competition
Section: Chapter Questions
Problem 15.3P
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Part 1 ( Feedback See Hint Two Cournot duopolists compete in a market with inverse demand given by p = 92.00 - 20, where p is the per-unit price, q; is the output for firm i (either firm 1 or firm 2), and Q = 91 + 92. Both firms face constant marginal costs of $2 per unit. Assume no fixed costs. What is the optimal output for firm 1? 15.33 (Round to two decimals if necessary.) What is the optimal output for firm 2? 15.34 (Round to two decimals if necessary.) Part 214 × Feedback What is the equilibrium price in this market? $ 61.34 (Round to two decimals if necessary.) Part 3 * Feedback What is the profit for each firm? (Round to two decimals if necessary.) Firm 1 profit: $940.19 Firm 2 profit: $ 940.96 (Round to two decimals if necessary.) See Hint See Hint
Transcribed Image Text:Part 1 ( Feedback See Hint Two Cournot duopolists compete in a market with inverse demand given by p = 92.00 - 20, where p is the per-unit price, q; is the output for firm i (either firm 1 or firm 2), and Q = 91 + 92. Both firms face constant marginal costs of $2 per unit. Assume no fixed costs. What is the optimal output for firm 1? 15.33 (Round to two decimals if necessary.) What is the optimal output for firm 2? 15.34 (Round to two decimals if necessary.) Part 214 × Feedback What is the equilibrium price in this market? $ 61.34 (Round to two decimals if necessary.) Part 3 * Feedback What is the profit for each firm? (Round to two decimals if necessary.) Firm 1 profit: $940.19 Firm 2 profit: $ 940.96 (Round to two decimals if necessary.) See Hint See Hint
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