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please complete both if possible . Consider a market with two identical firms: Firm A and Firm B. . The market demand is P =
please complete both if possible
. Consider a market with two identical firms: Firm A and Firm B. . The market demand is P = 260 - 2Q, where Q = q + qp and the firms cost structure is such that MCA = ACA = 30 and MCB = ACB = 40 Write the expression for the firms' reaction functions: (a) Firm A's reaction function = (Write the function in its simplest form. Use only the number of decimal places required - eg., 5.75 and 0.5.) (b) Firm B's reaction function = (Write the function in its simplest form. Use only the number of decimal places required - eg., 5.75 and 0.5.). Consider a market with two identical firms: Firm A and Firm B. . The market demand is P = 260 - 4Q, where Q = qA + qp and the firms cost structure is such that MCA = ACA = 30 and MCB = ACB = 45. . The Cournot-Nash quantities are qA = 20.42 and QB = 16.67. . Market price is P = $111.64. . Firms earn profits of TA = $1667.09 and Tig = $1110.89. Determine consumer surplus for this market. Consumer Surplus = (Round to two decimal places.)Step by Step Solution
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