Tions of Bertrand's duopoly mole? ( 2 pt.)
5. What are Cartels? (1 pt.)
IV. Work out questions...
Business, 31.10.2020 09:10 dsteele3642
Tions of Bertrand's duopoly mole? ( 2 pt.)
5. What are Cartels? (1 pt.)
IV. Work out questions (4 marks)
Suppose that the demand function facing two duopolistic under Cournot's model is
Q = 250-10/25p, where Q = Qi+Q2
and the cost function are
Cl = 10 Q, and C2 = 20Q2
Then
a) Derive the reaction function of each dupoplist.
b) Determine the price and output of each firm
c) Calculate the profit level of each firm
d) Show graphically the cournots stable equilibrium point!
Answers: 2
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