Business, 01.05.2021 15:20, nbaarubyy

1. Consider a market with a demand curve given (in inverse form) by P(Q) = 80 - 0.250, where Q is total market output and P is the price of the good. Two firms compete in this market by sequentially choosing quantities q1 and q2 (where q1 + q2 = 0). This is an example of:. A. Bertrand competition.
B. Cournot competition.
C. perfect competition.
D. Stackelberg competition.
2. Now suppose the cost of production is constant at $30.00 per unit (and is the same for both firms). If the two firms are maximizing profit, the leader will produceunits and the follower will produceunits. The total amount of production will beunits and the price of the good will be $.

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1. Consider a market with a demand curve given (in inverse form) by P(Q) = 80 - 0.250, where Q is to...