Total costs equal 60q mc 60unit for each firm. for each, Ask an Expert

Economics

The market demand for a pair of duopolists is given as P = 360 - 4Q, where Q = Q1 + Q2. Total costs equal 60Q (MC = $60/unit) for each firm. For each firm determine the equilibrium price, output, and profit for the following models:

a. Shared Monopoly
b. Cournot Duoplists (each rival assumes output is fixed)
c. Stackelberg Duopolists (assume firm one is the leader)
d. Bertrand Duopolists (competitive case)

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M966864

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