You are given the market demand function Q = 1500-1000p, and that each duopoly firm's marginal cost is $0.18 per unit, which implies the cost function: C(qi) = 0.189; assuming no fixed costs for i = 1, 2. The cooperative Cournot quantities are q₁ = and 9₂ = (enter your responses as whole numbers).
You are given the market demand function Q = 1500-1000p, and that each duopoly firm's marginal cost is $0.18 per unit, which implies the cost function: C(qi) = 0.189; assuming no fixed costs for i = 1, 2. The cooperative Cournot quantities are q₁ = and 9₂ = (enter your responses as whole numbers).
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:You are given the market demand function
Q = 1500-1000p,
and that each duopoly firm's marginal cost is $0.18 per unit, which implies the cost function:
C(qi) = 0.18qi,
assuming no fixed costs for i = 1, 2.
The cooperative Cournot quantities are q₁ =
and 925
=
(enter your responses as whole numbers).
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