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Find the equilibrium prices and profits

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Reference no: EM132909298

Three firms supply differentiated products and compete in prices. With constant marginal costs c1 = c2 = c3 = 20.

The demand functions of their respective products are D1(p1, p2, p3) = 20 - 2p1 + p2 + p3

D2(p1, p2, p3) = 20 + p1 - 2p2 + p3

D3(p1, p2, p3) = 20 + p1 + p2 - 2p3

  1. Find the equilibrium prices and profits.
  2. If firms 2 and 3 merge resulting in a new firm Fa. Find the new equilibrium and explain the impacts of the merger in this market.

Reference no: EM132909298

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