5 Two firms, Alpha Mowers and Beta Mowers, sell qa and qg identical lawnmowers (respectively).Market (inverse) demand is p = 150 - Q where Q = qa + qg . Both firms have a constant marginalcost of $30. The equilibrium quantity for each firm is%3D

P = 150 - Q = 150 -qa -qb At profit maximisation, Marginal revenue = marginal cost

Answered: Two firms, Alpha Mowers and Beta…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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UNITS OF VARIABLE TOTAL MARGINAL AVERAGE PRICE OF INPUT PRODUCT PRODUCT PRODUCT INPUT TOTAL VARIABLE COST AVERAGE VARIABLE COST TOTAL FIXED TOTAL AVERAGE TOTAL MARGINAL COST COST COST COST 012345678 0 $1 $2 6 $1 2 15 $1 27 $1 37 $1 45 $1 50 $1 52 $1 50 $1 ଖ ଖ ଖ ଖ ଖ ଖ ଖ ଖ ଖ $2 $2 $2 $2 $2 $2 $2 $2
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Two firms, Alpha Mowers and Beta Mowers, sell qa and qg identical lawnmowers (respectively). Market (inverse) demand is p = 150 - Q where Q = qa + qB . Both firms have a constant marginal cost of $30. The equilibrium quantity for each firm is