Question: Solve it plzzzzzz Exercise 1. Consider the following duopoly model. If q; 2 0 is produced by firm i {1, 2}, then Q = q1

Solve it plzzzzzz

Exercise 1. Consider the following duopoly model. If q; 2 0 is produced by firm i {1, 2}, then Q = q1 +92 is the aggregate quantity in the market and P = P(Q) = 17-Q if Q 0 is Q = D(p) = 17 - p (in case p > 17, it is 0). If the firms announce prices p; > 0, then Firm i sells D(p;) and the other firm has no demand if p.

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