2 Two companies with cost functions C1 (91)=591 and C2 (92)= 0.5 92 2 supply the to the same market. If the inverse mark

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2 Two Companies With Cost Functions C1 91 591 And C2 92 0 5 92 2 Supply The To The Same Market If The Inverse Mark 1 (76.89 KiB) Viewed 86 times

2 Two companies with cost functions C1 (91)=591 and C2 (92)= 0.5 92 2 supply the to the same market. If the inverse market demand function is given by P=100 -0,5Q , where Q=9, +92, find 1 a) The production level of each firm, the price and the profits if the companies compete according to the Cournot model. (b) The level of production of each undertaking, the price and the profits if the undertakings agree to jointly maximise their profits. Show the results with the help of graphs.