For each the following market structures: 1. Monopoly (1 firm) 2. Cartel (2 firms) 3. Cournot (2
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Question:
For each the following market structures:
1. Monopoly (1 firm)
2. Cartel (2 firms)
3. Cournot (2 firms)
4. Stackleberg (2 firms)
5. Bertrand (2 firms)
Given the demand curve: Q = 120 – P and marginal costs = 20 find the following
A) Price
B) Total Quantity: Q
C) Quantity firm 1: q1
D) Quantity firm 2: q2
E) Total profit
F) Profit for firm 1
G) Profit for firm 2
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