Question
Two firms operating in a competitive environment have the following supply functions: S1(p) = p-13 S2(p) = 2p-12 WhereS1(p)is the supply function of firm 1
Two firms operating in a competitive environment have the following supply functions:
S1(p) = p-13
S2(p) = 2p-12
WhereS1(p)is the supply function of firm 1 andS2(p)is the supply function of firm 2. At what price does firm 2 enter the market
At what level of output does the industry supply curve have a kink in it?
What is the slope of the market supply curve when p>12?
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Classics In Game Theory
Authors: Harold William Kuhn
1st Edition
1400829151, 9781400829156
