Overview - Price revealed after all have chosen production An Example - 2 firms: each pays $6 per scooter produced - One produces 10, the other chooses 9 - Suppose resulting price is $11 Payoff = Produced x (Price Cost) Firm1 = 10 x ($11$56) = $50 Firm 2 = 9 x ($11 $6) = $45 Overview - Each season, each firm chooses its quantity - You pay a cost for each scooter you produce - Per-scooter cost is the same for all firms - Market price depends on total production '- More total production -) Lower market price - Your payoff equals your profits