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Question 4 Suppose there are two identical firms in an industry. The output of Firm 1 is denoted by and that of Firm 2 is

Question 4

Suppose there are two identical firms in an industry. The output of Firm 1 is denoted by and that of Firm 2 is denoted by 42. The cost function of Firm 1 is given by C(q) = and the cost function of Firm 2 is given by C(q2). Let Q denote total output, i.e. Q = 9 + 92. The inverse demand curve in the market is given by P-420-Q

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