Suppose that identical duopoly firms have constant marginal costs of $16 per unit. Firm 1 faces a demand function of 91

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Suppose That Identical Duopoly Firms Have Constant Marginal Costs Of 16 Per Unit Firm 1 Faces A Demand Function Of 91 1 (61.03 KiB) Viewed 21 times

Suppose that identical duopoly firms have constant marginal costs of $16 per unit. Firm 1 faces a demand function of 91 = 100 – 2p1 + 1P2, = where 91 is Firm 1's output, p1 is Firm 1's price, and p2 is Firm 2's price. Similarly, the demand Firm 2 faces is 92 = 100 – 2p2 + 101: . Solve for the Bertrand equilibrium. In equilibrium, p1 equals $ 44 and P2 equals $ 44. (Enter numeric responses using integers.) At these prices, 91 equals and 92 equals The total quantity supplied is