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Two rms sell identical products and compete as Cournot (price-setting) competitors in a market with a demand of p = 150 - Q. Each rm has a constant marginal and average cost of $3 per unit of output. Compute each rm's best response function. Plot each of these functions on a graph with q1 on the horizontal axis and q2 on the vertical. Compute the Cournot equilibrium quantities.
Now suppose that rm 1's cost rises to $4 per unit and rm 2's decreases to $2. On a graph, show how this will change the best response functions. How will the equilibrium change according to the changes you made on the graph?
q1. total fixed cost or sunk cost is independent of quantity produced.assume a small firm has invested 10 million in
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You purchased a commercial building and lot for $400,000 on April 15th of 2010. The lot itself was valued at $80,000 when purchased. You sold the lot and building on September 15th of 2015. Use MACRS depreciation and note this property is non-residen..
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