Question: 1 . ( 1 0 points ) Two firms compete in one market. Their cost functions are C 1 ( y 1 ) and C
points Two firms compete in one market. Their cost functions are Cy and Cy respectively, with increasing marginal cost. Products are homogeneous, so the total market supply is Y y y The downward sloping market inverse demand function is P P Y
a If these two firms compete following Cournot competition, write down their optimization problem and the associated first order conditions no need to solve it
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