Question: answer questions a b c Consider a market with two producers. Firm 1 has the cost function 01(y1) = 811% and rm two has the

answer questions a b c

answer questions a b c Consider a market with two producers. Firm

Consider a market with two producers. Firm 1 has the cost function 01(y1) = 811% and rm two has the cost function C(yg) = 21:3. Market demand is given by p = 440 q. a) Find the prots and total costs for each rm if they are playing a Cournot competition game. b) Find the prots and total costs of each rm if they are playing a Stackelberg leadership game and rm 1 is the leader. c) Find the prots and total costs of each rm if they are playing a Stackelberg leadership game and rm 2 is the leader

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