Derive the best response functions for each firm

Reference no: EM13188740

Consider a Cournot game in which there are two firms that face a market demand represented as Q = 500 - p and the cost function of firm i is Ci(qi)=50qi.

Part a . Derive the best response functions for each firm.

Part b . Calculate the Nash Equilibrium .

Reference no: EM13188740

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