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Assume demand is P(Q) = 1 Q and there are two firms with the same cost function c(q) =(q^2)/2. (a) Find the competitive outcome and

Assume demand is P(Q) = 1 Q and there are two firms with the same cost function c(q) =(q^2)/2.

(a) Find the competitive outcome and total profits, i.e. when firms ignore their effect on market price.

(b) Find the Cartel outcome and total cartel profits.

(c) Find the Cournot duopoly outcome and total duopoly profits.

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