(Answered) There are two identical firms with cost functions c1qc2qq

Management Studies

There are two identical firms (with cost functions C₁(Q)=C₂(Q)=Q which operate on the market with demand P=10-Q, where Q is total quantity on the market, Q=Q₁+Q₂

A. Find the equilibrium Q and P if this industry would be perfectly competitive

B. Find the Cournot equilibrium Q and P for each firm.

C. Find the equilibrium Q and P for each firm assuming that the firms collude and share the profit equally.

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