Reference no: EM13182566
Two firms compete in a market to sell a homogeneous product with inverse demand function P=600-3Q. 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.
Cournot output for each firm:
Cournot Profit for each firm:
Stackelberg Leader output:
Stackelberg follower output:
Stackelberg leader profits:
stackelberg follower profts:
Bertrand market-level output:
Bertrand profits for each firm:
Collusive market-level output:
Collusive industry-level profits:
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