P=100-2Q where Q is total quantity demanded for both firms 1 and 2, respectively. The firms...

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P=100-2Q where Q is total quantity demanded for both firms 1 and 2, respectively. The firms...

P=100-2Q where Q is total quantity demanded for both firms 1 and 2, respectively. The firms 1 marginal cost is given by MC₁(Q₁)=2Q₁. The firms 2 marginal cost is given by MC₂(Q₂)=4Q₂. Based on this information firm 1 and firm 2's reaction functions are?

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Answer 1

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P- 100 - 20,-2a2 From 1 TR, = lood, -29, -29,02 MR, = 100-49,- 20₂ 2 Me = Mira MC 100-49, -222 =2 98 - 292 = 40 9,= 24.5 - 1

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