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An electricity industry contains two generating firms, one of which has marginal cost= $2.50 and the other of $1.50; the demand curve is Quantity=40-4*price. Quantities are in MWH and price are in $/Mwh. Very low production cost!
A. Find cournot Equilibrium price and quaintly.
PLEASE SHOW WORK AND Clearly state Price and Quantity
B. Answer the same question as in part a if the firms behave according to the assumptions of the bertrand model.
Suppose that the monthly demand function of a particular commodity is given by P= 200 -0.4x and the supply function is P = 0.2x + 80 where x is the number of units demanded and supplied and P is in pesos. Determine the equilibrium prics and quantity
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When a industry's marginal revenue product equals the income rate, marginal revenue also equals marginal cost.
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Conclude the change in demand when PX increases to 80. Conclude the exact amounts of the income also substitution effects for X.
q.the table below explain how is the aggregate demand and short-run aggregate provide schedules of a country in which
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