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28 Sep 2019
Suppose the market demand function is given by Q = 100 - 2P, where Q: total quantity, P: market price. And in this market, there are two firms with MC=AV= $10. Find each of the following: 1. Perfect competition price, quantity, and consumer surplus? 2. Monopoly price, quantity, consumer surplus, profit, and welfare loss? 3. Cournot price, quantity, consumer surplus, each firm`s profit, and welfare loss? 4. Stackelberg price, quantity, consumer surplus, each firm`s profit, and welfare loss? 5. Collusion quantity, profit from collusion?
Suppose the market demand function is given by Q = 100 - 2P, where Q: total quantity, P: market price. And in this market, there are two firms with MC=AV= $10. Find each of the following: 1. Perfect competition price, quantity, and consumer surplus? 2. Monopoly price, quantity, consumer surplus, profit, and welfare loss? 3. Cournot price, quantity, consumer surplus, each firm`s profit, and welfare loss? 4. Stackelberg price, quantity, consumer surplus, each firm`s profit, and welfare loss? 5. Collusion quantity, profit from collusion?
Chika IlonahLv10
28 Sep 2019
