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Three firms sell related products in a market. Their supply functions are: = 2 P1 45 = P2 43 = 2 P3 The firms face
Three firms sell related products in a market. Their supply functions are: = 2 P1 45 = P2 43 = 2 P3 The firms face the following demands: = -23 - 4 P1 + 4 P2 +5 P3 = -52 + 5 P1 - 5 P2+4P3 = -6+4P1 +3P2 -3 P3 Given the above supply and demand functions, what price must each firm charge to equate supply and demand? P1 = Number P = Number P. = Number
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