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Market demand is given by p(Q)=100Q, and Q=q1+q2+q3. Firm 1's costs are c1(q1)=6q1, firm 2 's costs are c2(q2)=5q2 and firm 3's costs are c3(q3)=5q3.
Market demand is given by p(Q)=100Q, and Q=q1+q2+q3. Firm 1's costs are c1(q1)=6q1, firm 2 's costs are c2(q2)=5q2 and firm 3's costs are c3(q3)=5q3. following questions. If rounding is needed, write your answers to 3 decimal places. a) If Firm 1 chooses q1=12, what quantity will Firm 2 choose? b) If Firm 1 chooses q1=100, what quantity will Firm 2 choose? c) In the subgame perfect Nash equilibrium of this game, firm 1 produces what quantity? d) In the subgame perfect Nash equilibrium of this game, firm 2 and firm 3 each produce what quantity? Market demand is given by p(Q)=100Q, and Q=q1+q2+q3. Firm 1's costs are c1(q1)=6q1, firm 2 's costs are c2(q2)=5q2 and firm 3's costs are c3(q3)=5q3. following questions. If rounding is needed, write your answers to 3 decimal places. a) If Firm 1 chooses q1=12, what quantity will Firm 2 choose? b) If Firm 1 chooses q1=100, what quantity will Firm 2 choose? c) In the subgame perfect Nash equilibrium of this game, firm 1 produces what quantity? d) In the subgame perfect Nash equilibrium of this game, firm 2 and firm 3 each produce what quantity
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