HomeworkLib
Question

What is the​ homogeneous-good duopoly Cournot equilibrium if the market demand function is Q=10,000−1,000​p, and each​...

What is the​ homogeneous-good duopoly Cournot equilibrium if the market demand function is

Q=10,000−1,000​p,

and each​ firm's marginal cost is $0.28 per​ unit

The​ Cournot-Nash equilibrium occurs where

q1=3240 and q2= 3240

​Furthermore, the equilibrium occurs at a price of $???? (Round your answer to the nearest​ penny.)

business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

0 0
Add a comment
Know the answer?
Add Answer to:
What is the​ homogeneous-good duopoly Cournot equilibrium if the market demand function is Q=10,000−1,000​p, and each​...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • What is the homogeneous-good duopoly Coumot equilbrium if the market demand function is Q 10,000-100p, and...

    What is the homogeneous-good duopoly Coumot equilbrium if the market demand function is Q 10,000-100p, and each fim's marginal cost is $0.28 per unit? The Cournot-Nash equilbrium occurs where q, equals and equals(Enter numenic responses u Furthermore, the equilibrium occurs at a price of (Round your answer to the nearest penny using real numbers rounded to two decimal places)

  • What is the​ homogeneous-good duopoly Cournot equilibrium if the market demand function is Q=4,000-400p, and each​...

    What is the​ homogeneous-good duopoly Cournot equilibrium if the market demand function is Q=4,000-400p, and each​ firm's marginal cost is $0.28 per​ unit? The​ Cournot-Nash equilibrium occurs where q 1 equals ____and q 2 equals nothing. (Enter numeric responses using real numbers rounded to two decimal​ places.)

  • A duopoly faces a market demand of p 180-Q. Firm 1 has a constant marginal cost...

    A duopoly faces a market demand of p 180-Q. Firm 1 has a constant marginal cost of Mc1 -S20. Firm 2s constant marginal cost is MC2 $40. Calculate the output of each firm, market output, and price if there is (a) a collusive equilibrium or (b) a Cournot equilibrium The collusive equilibrium occurs where q, equals and q2 equals (Enter numeric responses using real numbers rounded to two decimal places) Market output is The collusive equilibrium price is S The...

  • What is the duopoly Nash-Cournot equilibrium if the market demand function is Q = 1000 -...

    What is the duopoly Nash-Cournot equilibrium if the market demand function is Q = 1000 - 1000p and each firm’s marginal cost is 28¢ per unit?

  • A homogeneous product duopoly faces a market demand function given by p = 300 - 3Q,where...

    A homogeneous product duopoly faces a market demand function given by p = 300 - 3Q,where Q = q1 + q2. Both firms have constant marginal cost MC = 100. 1a. Derive the equation of each firm's quantity reaction function. b. What are the Cournot equilibrium quantity and price in this market? How much does each firm produce? c. What would be the equilibrium price and quantity in this market if it were perfectly competitive? d. What would the equilibrium...

  • The inverse market demand in a homogeneous-product Cournot duopoly is P = 146 – 3(Q1 +...

    The inverse market demand in a homogeneous-product Cournot duopoly is P = 146 – 3(Q1 + Q2) and costs are Company 1,  C1(Q1) = 16Q1 and Company 2 C2(Q2) = 29Q2. Calculate the equilibrium output for Company 2 Round all calculations to 1 decimal

  • A homogeneous product duopoly faces a market demand function given by p = 300 - 3Q,where...

    A homogeneous product duopoly faces a market demand function given by p = 300 - 3Q,where Q = q1 + q2. Both firms have constant marginal cost MC = 100. (part 2) 1a. What is the Bertrand equilibrium price and quantity in this market? 1b. Suppose Firm 1 is the Stackelberg leader, what is the equilibrium price in this market if Firm 2 plays the follower in this duopoly market? What is the equilibrium quantity? How much does each firm...

  • Question 1 10 pts The (inverse) market demand function in a homogeneous product Cournot duopoly is...

    Question 1 10 pts The (inverse) market demand function in a homogeneous product Cournot duopoly is as follows: P = 200 - 10(Q1+Q2). The total cost functions are TC = 100 + 40Q1 for firm one and TC = 80 + 60Q2 for firm two. 1.(4 points) Determine the reaction function for each firm. 2. (2 points) Calculate each firm's equilibrium level of output. 3. (2 points) Calculate the market equilibrium price. 4.(2 points) Calculate the profit each firm earns...

  • Demand in a market dominated by two firms (a Cournot duopoly) is determined according to: P...

    Demand in a market dominated by two firms (a Cournot duopoly) is determined according to: P = 300 – 4(Q1 + Q2), where P is the market price, Q1 is the quantity demanded by Firm 1, and Q2 is the quantity demanded by Firm 2. The marginal cost and average cost for each firm is constant; AC=MC = $74. The cournot-duopoly equilibrium profit for each firm is

  • Demand in a market dominated by two firms (a Cournot duopoly) is determined according to: P...

    Demand in a market dominated by two firms (a Cournot duopoly) is determined according to: P = 200 – 2(Q1 + Q2), where P is the market price, Q1 is the quantity demanded by Firm 1, and Q2 is the quantity demanded by Firm 2. The marginal cost and average cost for each firm is constant; AC=MC = $68. The cournot-duopoly equilibrium profit for each firm is

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT