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- current answer: We have a market with the demand function of p=400- 2Q for good X. The market supply is divided between two similar firms each with a cost function of TC=100+100Q. If both firms decide to produce at the same time in this market following a Cournot model, the reaction function of firm 2 will be Q2= BLANK + BLANK -Q2. The optimum amount of production for firm1 is BLANK - and firm2 will be BLANK. The price for firm 1 will be BLANK and the price for firm 2 will be BLANK. The profit generated for firm 1 will be BLANK. If firm 1 is a leader and firm 2 a follower based on the Stackelberg model, the optimum amount of production for firm 1 is BLANK - and the optimal production for firm 2 is BLANK -. The Market price will be - BLANK. The total profit for Firm 2 will be - BLANK - and the total profit generated in the market will be - BLANK - compared to the case of cornout (type more, less, or the same).

We have a market with the demand function of p=400- 2Q for good X. The market supply is divided between two similar firms each with a cost function of TC=100+100Q. If both firms decide to produce at the same time in this market following a Cournot model, the reaction function of firm 2 will be Q2=

A - Numeric Answer

+

B - Numeric Answer

Q2. The optimum amount of production for firm1 is

Q1_C - Numeric Answer

and firm2 will be

Q2_C - Numeric Answer

. The price for firm 1 will be

P1_C - Numeric Answer

and the price for firm 2 will be

p2_C - Numeric Answer

The profit generated for firm 1 will be

Profit_1C - Numeric Answer

.

If firm 1 is a leader and firm 2 a follower based on the Stackelberg model, the optimum amount of production for firm 1 is

Q1_S - Numeric Answer

and the optimal production for firm 2 is

Q2_S - Numeric Answer

. The Market price will be

P_S - Numeric Answer

. The total profit for Firm 2 will be

profit_f1S - Numeric Answer

and the total profit generated in the market will be

MarketProfit_S - Word Answer

compared to the case of cornout (type more, less, or the same).