Find the market price and quantities produced

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Reference no: EM13223232

Consider the same two firms as above with marginal costs 10 and 40, facing a demand p = 100 - q.

a. Find the market price and quantities produced if firm 1 moved first, followed by firm 2

b. Find the market price and quantities produced if firm 2 moves first, followed by firm 1.

c. Which of (a) or (b) would the consumers prefer? Explain.

Reference no: EM13223232

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