Academic help online

Consider an oligopoly in which firms choose quantities. The inverse market demand curve is given by P = 280 – 2(X + Y ), where X is the quantity of Firm 1, and Y is the quantity of Firm 2. Each firm has a marginal cost equal to 40.
a) What is the Cournot equilibrium outputs for each firm? What is the market price at the Cournot equilibrium? What is the profit of each firm?
b) What is the Stackelberg equilibrium, when Firm 1 acts as the leader? What is the market price at the Stackelberg equilibrium? What is the profit of each firm?

All Rights Reserved, usbestwriters.com
Disclaimer: You will use the product (paper) for legal purposes only and you are not authorized to plagiarize. In addition, neither our website nor any of its affiliates and/or partners shall be liable for any unethical, inappropriate, illegal, or otherwise wrongful use of the Products and/or other written material received from the Website. This includes plagiarism, lawsuits, poor grading, expulsion, academic probation, loss of scholarships / awards / grants/ prizes / titles / positions, failure, suspension, or any other disciplinary or legal actions. Purchasers of Products from the Website are solely responsible for any and all disciplinary actions arising from the improper, unethical, and/or illegal use of such Products.