The inverse demand that duopoly quantity-setting firms, Ask an Expert

Economics

The inverse demand that duopoly quantity-setting firms faces is p = 90 - 2q1 - 2q2. Firm #1 has no marginal cost of production, while firm #2 has a marginal cost of $30. How much does each firm produce if they move simultaneously? What is the equilibrium price?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9449234

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