Find the equilibrium quantities for the firms and price

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Question - Suppose two identical firms, each with a marginal cost of $60 per unit, are competing in a market with demand Q = 150 - p.

a) Find the equilibrium quantities for the firms and price if the firms collude (form a cartel).

b) Find the quantities for the firms and price in Nash-Cournot equilibrium.

c) Find the quantities for the firms and price in Stackelberg equilibrium when Firm 1 moves first.

Reference no: EM133277828

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