Question
In a Cournot duopoly, the market demand is given by: P(q1, q2) = 250 - 2(q1 + q2), where P is the market price, and
In a Cournot duopoly, the market demand is given by: P(q1, q2) = 250 - 2(q1 + q2), where P is the market price, and q1 and q2 are the levels of output produced by firm 1 and 2 respectively. Moreover, the total cost functions of firm 1 and 2 are given by (respectively): TC1(q1) = 75 + 10q1 and TC2(q2) = 100 + 12q2 + 25(q2)2. The residual demand function of firm 1 is given by:
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A Textbook Of Mathematical Economics
Authors: Dr Chandrakant Singh
1st Edition
9353140986, 9789353140984
