Top Posters
Since Sunday
y
2
m
2
m
2
u
2
m
2
B
2
M
2
e
2
k
2
N
2
y
2
m
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
PaulKet PaulKet
wrote...
Go to Answer
Posts: 488
Rep: 6 0
6 years ago
Consider a market with just one firm. The demand in the market is p = 18 – Q and the firm has a linear cost function C(Q) = 2Q.
a.   How much output will this firm produce. What will be the profit and consumers surplus?
b.   Suppose a second firm with the same cost function enters the market and the two firms compete in a Cournot style (simultaneous output choice). What will be the equilibrium price and quantity in the market? What is the total market profit and CS?
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
Read 61 times
1 Reply
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
Replies
Answer verified by a subject expert
forrestforrest
wrote...
#1
Posts: 266
Rep: 3 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
This verified answer contains over 180 words.
1

Related Topics

PaulKet Author
wrote...

6 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
gmiannotti
wrote...

Yesterday
Thanks
Morgan-C
wrote...

2 hours ago
Just got PERFECT on my quiz
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  750 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 747
  
 303
  
 137
Your Opinion
What's your favorite coffee beverage?
Votes: 304
Previous poll results: Which country would you like to visit for its food?