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Compare the output levels and profits in settings

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Reference no: EM132471430

Two firms compete in a market to sell a homogeneous product with inverse demand function P = 600 - 6Q. Each firm produces at a constant marginal cost of $300 and has no fixed costs. Use this information to compare the output levels and profits in settings characterized by Cournot, Stackelberg, Bertrand, and collusive behavior.

Instruction: Do not round intermediate calculations. Round final answers to 2 decimal places for Cournot values.

Cournot output for each firm: 

Cournot profits for each firm:

Stackelberg leader output:

Stackelberg follower output:  

Stackelberg leader profits:

Stackelberg follower profits:

Bertrand market-level output: 

Bertrand profits for each firm:

Collusive market-level output:  

Collusive industry-level profits:

Reference no: EM132471430

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