question archive 1)What are created wetlands? 2)Two firms produce and sell differentiated products that are substitutes for each other
1)What are created wetlands? 2)Two firms produce and sell differentiated products that are substitutes for each other
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1)What are created wetlands?
2)Two firms produce and sell differentiated products that are substitutes for each other. Their demand curves are: Firm 1: Q1=40−3P1+P2Q1=40−3P1+P2 and Firm 2: Q2=40−3P2+P1Q2=40−3P2+P1
Both firms have constant marginal costs of $3.10 per unit. Both firms set their own price and take their competitor's price as fixed. Use the Nash equilibrium concept to determine the equilibrium set of prices. Since the firms are identical, they will set the same prices and produce the same quantities.
In equilibrium, what price will each firm charge and how many units of output will each firm produce? What profit will each firm will earn?
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1)Created wetlands are purpose-built wetlands. They are constructed in areas that do not have a natural wetland and are used for the containment and treatment of wastewater, water that is contaminated by agricultural pursuits, pollutants from mines and excessive waters due to storms. Created wetlands can only be made in areas that can sustain this type of geographical feature.
2)please see the attached file.
