hale's one-stop gas and auto service compete with Murray's gas and service mart. the local demand is

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hale's one-stop gas and auto service compete with Murray's gas and service mart. the local demand is given by P=2.5-0.01Q.

Hale's MC function is MCH: qH=0.35qH

Murray's MC function is MCM: qM=0.3qM

find hale's and Murray's reaction function; then find the Cournot solution. (price and quantities)

Related Book For answer-question

Microeconomics

ISBN: 9781464146978

1st Edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

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Posted Date: Feb 22, 2024 05:12 AM

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hale's one-stop gas and auto service compete with Murray's gas and service mart. the local demand is

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To find Hales reaction function we need to find Hales profitmaximizing quantity by setting marginal ... View the full answer

Microeconomics

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