Business, 08.07.2019 18:30 brendaandrade1889

(60 pt.) there are two firms in a market that compete each other in terms of quantity. the market demand function is given by d(p) = 60 − p. the firm 1’s cost function is c1(q) = q 2 and the firm 2’s cost function is c2(q) = 15q + q 2 . - consider a stackelberg model in which firm 1 is the leader and firm 2 is the follower. a. (5 pt.) write down profit maximization problems for each firm. b. (10 pt.) find an optimal choice of quantities for each firm. c. (5 pt.) determine market price, market quantity, and profits of each firm. - consider a cournot model. d. (5 pt.) write down profit maximization problems for each firm. e. (10 pt.) find an optimal choice of quantities for each firm. f. (5 pt.) determine market price, market quantity, and profits of each firm. - consider a cartel model. g. (5 pt.) write down profit maximization problems for each firm. h. (10 pt.) find an optimal choice of quantities for each firm. i. (5 pt.) determine market price, market quantity, and profits of each firm.

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(60 pt.) there are two firms in a market that compete each other in terms of quantity. the market de...

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