question archive Assume we have a market with two identical firms producing the same product
Assume we have a market with two identical firms producing the same product
Subject:EconomicsPrice: Bought3
Assume we have a market with two identical firms producing the same product. Their demand function is given by
p= 130 -q1 -q2
Both firms have the same marginal cost
MC = 10
What is the optimal quantity and price?
q1 = q2 = 40, p=50
q1 = q2 = 50, p=30
q1 = q2 = 50, p=40
q1 = q2 = 40, p=60
