Question
An industry contains two firms, one whose cost function is C(q) = 30q and another whose cost function is C(q) =80q. The inverse demand function
An industry contains two firms, one whose cost function is C(q) = 30q and another whose cost function is C(q) =80q. The inverse demand function for the firms' output is p = 120 - Q, where Q is the total output. What are the firms' outputs if they compete in prices?
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Foundations of Macroeconomics
Authors: Robin Bade, Michael Parkin
8th edition
134492005, 978-0134492001
