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Firm A and Firm B are the only two firms in a market where price is determined by the inverse demand function: P = 135 -
Posted: Sun Jul 03, 2022 3:43 pm
by answerhappygod
- Firm A And Firm B Are The Only Two Firms In A Market Where Price Is Determined By The Inverse Demand Function P 135 1 (35.51 KiB) Viewed 12 times
Firm A and Firm B are the only two firms in a market where price is determined by the inverse demand function: P = 135 - Q. Q is the sum of Firm A and Firm B's output, so Q = 9A + 9B Firm A's total cost function is given by TCA(QA) = 3qA Firm B's total cost function is given by TCB(9B) = 29B If these firms Cournot compete (simultaneously setting quantities), what will market output be when both firms are maximizing profits in equilibrium? (Note: The answer may not be a whole number, so round to the nearest hundredth) (Note: The numbers may change between
questions, so read carefully)