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consider the markert for 5k running events in a major metropolitan area in the southwestern united states. there are two major firms, runtucson and communitytrackclub.
consider the markert for 5k running events in a major metropolitan area in the southwestern united states. there are two major firms, runtucson and communitytrackclub. the demand for 5k running events is characterized by the equation P=630-r-c where r and c represent the number of 5k running events produced in a year by run tucson and communitytrackclub. runtucson has a marginal cost equal to average cost $30 at all levels of output. communitytrackclub has a marginal cost equal to average cost of $30 at all levels. A. this is a cournot situation where both choose quantity at the same time. In the nash equilibrium identify 1. the quantities chosen by community track club and run tucson, 2. the market price that will result. 3. and the profits received by communitytrack club and run tucson
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