Business, 09.12.2019 19:31, ysabel0420

You are given the market demand function q = 3400 - 1000p, and that each duopoly firm's marginal cost is $0.28 per unit, which implies the cost function: c (q_i) = 0.28q_i, assuming no fixed costs for i = 1, 2. the cournot equilibrium quantities are q_1 = and q_2 = (enter your responses as whole numbers). the cournot equilibrium price is $ (round to the nearest penny) calculate the cournot profits: firm 1 $ and firm 2 $ (round both responses to the nearest cent).

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You are given the market demand function q = 3400 - 1000p, and that each duopoly firm's marginal cos...