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The inverse demand function for the market is P = 120 - 2Q. There are two firms: A and B. The cost for firm A are C(qA) = 18qA, and the costs for firm B are C(qB) = 18qB. Assume that both firms choose quantities simultaneously.
(a) What is each firm's strategic variable and what is firm A's profit maximization problem as a function of each firm's strategic variable?
(b) What is each firm's best response function?
(c) How much does each firm produce at the Nash equilibrium?
(d) What is the market equilibrium price at the Nash equilibrium?
q1. why does michael porter admonish companies not to change their competitive positioning any more frequently than
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