Answers: 2

Economy, 20.08.2019 23:00, alikarki2580

Consider an industry with three firms each having marginal costs equal to zero. the inverse demand curve facing this industry is. p(q1,q2,q3)= 60-(q1+q2+q3).q1 if each firm behave as a cournot competitor. what is firm1 best response function. q.2 calculate cournot equilibrium of this problem. q3.firm2 and firm3 decide to merge and form a single firm(mc is still zero).calculate the new industry equilibrium and comment on combined profits from firm2 and firm3 considering pre and post merger profits.

Answers: 1

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