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Let aggregate demand for good X in Country 1 be given by the function q d1 = 200-2 p and aggregate supply be given by

Let aggregate demand for good X in Country 1 be given by the functionq_d1=200-2pand aggregate supply be given byq_s1=4p-160.Let aggregate demand for good X in Country 2 be given by the functionq_d2=300-2pand aggregate supply be given byq_s2=4p-180.

What is the Nash Equilibrium of a second-price, sealed-bid auction? Show that it is a Nash Equilibrium.

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