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A duopoly faces a market demand of p = 150 - Q. Firm 1 has a constant marginal cost of MC1 = $10. Firm 2's
A duopoly faces a market demand of p = 150 - Q. Firm 1 has a constant marginal cost of MC1 = $10. Firm 2's constant marginal cost is MC2 = $20. Calculate the output of each rm, market output, and price if there is (a) a collusive equilibrium or (b) a Coumot equilibrium. The collusive equilibrium occurs where q1 equals I: and q2 equals :|. (Enter numeric responses using real numbers rounded to two decimal places) Market output is The collusive equilibrium price is $El. The Cournot-Nash equilibrium occurs where q1 equals D and q2 equals Market output is Furthermore, the Coumot equilibrium price is $D
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