QUESTION 13 Consider a market where two rms (1 and 2) produce differentiated goods and compete in prices. The demand for firm 1 is given
QUESTION 13 Consider a market where two rms (1 and 2) produce differentiated goods and compete in prices. The demand for firm 1 is given by D1(P1~P2)=140 2111 +102 and demand for rm 2's product is D2(p1.p2):140 2p; +1131 Both rms have a constant marginal cost of 20. What is the Nash equilibrium price of firm 1? (Only give a full number; if necessary, round to the lower integer; no dollar sign.)
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