Consider an oligopolistic market with two firms. Each of them produces using a cost function given by c(q)=q^2.
 👍
 👎
 👁
 ℹ️
 🚩

 👍
 👎
 ℹ️
 🚩
Answer this Question
Similar Questions

Economics
What is the basic economic problem that societies must solve? How to allocate resources in order to best satisfy the needs and wants of people. In which economic system are price signals, resulting from supply and demand forces, the only determining factor

Math
2. The cost of producing x units of a certain commodity is given by P�x � 1000 � 0 x MC�sds, where P is in dollars and M�x is marginal cost in dollars per unit. A. Suppose the marginal cost at a production level of 500 units is $10 per unit, and the cost

Math
The cost of producing x units of a certain commodity is given by P(x)=1000+ int(MC(s))ds from 0 to x, where P is in dollars and M(x) is marginal cost in dollars per unit. A. Suppose the marginal cost at a production level of 500 units is $10 per unit, and

economics
An employer has narrowed a list of applicants down to two individuals. The two candidates look nearly identical on paper, but one of them has earned a fouryear college degree. The employer decides to offer employment to the college graduate. What does

Managerial Economics
How does a price ceiling undermine the rationing function of marketdetermined prices? How could rationing coupons insure that consumers with the highest values get the limited amount of a good supplied when government price ceilings create shortage? Fully

economics
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that longrun average cost is minimized at an output of 20 units. The minimum average cost is $10 per unit. Total

economics
A profitmaximizing firm in a competitive market is currently producing 100 units of output. It has average revenue so $10, average total cost of $8 and fixed cost of $200. a. what is the profit? b. what is the marginal cost? c. what is its average

Economics
An industry currently has 100 firms, all of which have fixed costs of $16 and avg. variable cost as follows: Q Avg. Variable Cost ($) 1 1 2 2 3 3 4 4 5 5 6 6 a. Compute marginal cost and avg. total cost. b. the price is $10. what is the total quantity

analazye profit functions
For a certain company, the cost function for producing x items is C(x)=40x+150 and the revenue function for selling x items is R(x)=−0.5(x−80)2+3,200. The maximum capacity of the company is 100 items. The profit function P(x) is the revenue function

mba
the price p per unit at which a company can sell all that it produces is given by the function p(x) = 3004x. the costs function is c(x) = 500+28x where x is the number of units produced. find x so that the profit is maximum
Still need help?
You can ask a new question or browse existing questions.