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(Solved): The Market Demand Curve For A Pair Of Duopolists Is Given As P=53- Q Where Q= Q1 + Q2. The Constant...


The market demand curve for a pair of duopolists is given as P=53- Q where Q= Q1+ Q2. The constant per unit marginal cost is 20 for firm 1 and 22 for firm 2. Find the equilibrium price, quantity and profit for each firm in both the Cournot model and Bertrand model.

a) Cournot

Equilibrium Price:

Equilibrium Quantity for Firm 1:

Equilibrium Quantity for Firm 2:

Profit for Firm 1:  

Profit for Firm 2:

a) Bertrand

Equilibrium Price:

Equilibrium Quantity for Firm 1:  

Equilibrium Quantity for Firm 2:

Profit for Firm 1:

Profit for Firm 2:



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