Firm 1 has a unit cost of production c1 equal to 6 whereas, Ask an Expert

Economics

Suppose firm 1 and firm 2 each produce the same product and face a market demand curve described by Q=5000 - 200P. Firm 1 has a unit cost of production c1 equal to 6 whereas firm 2 has a higher unit cost of production c2 equal to 10.

a. what is the Bertrand-Nash equilibrium outcome?
b. What are profits of each firm?
c. Is this outcome efficient?

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