Scenario: Two identical firms make up an industry (duopoly) in which the market demand curve is...
Scenario: Two identical firms make up an industry (duopoly) in which the market demand curve is represented by Qd=5,000-4P, and the marginal cost (MC) is constant and equal to $650. Suppose the two firms decide to cooperate and collude; resulting in the same amount of production for each firm. What is the profit-maximizing price and output for the industry?
| Price = $300; Q= 2,000 units |
| Price = $400, Q= 5,000 units |
| Price = $950; Q= 1,200 units |
| Price = $600, Q= 1,500 units |
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Scenario: Two identical firms make up an industry (duopoly) in
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can someone help me solve/explain step by step 3) Suppose that there are only two firms in the industry for printers, HP and Xerox, making the industry a Cournot duopoly. The demand for printers is g...
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can someone help me solve/explain step by step
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