The two products arc partial substitutes

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Consider two manufacturers. Each makes a product. The two products arc partial substitutes. Priced at P_t. product i receives a demand q_1 = 15 - 2 9_1 + p_2 and q_2 = 15 - 2 p_2 + p_1. It costs $5 to produce a unit of product I and $10 to produce a unit of product 2. Derive the equilibrium prices and profits. How much revenue advantage docs company 1's cost advantage lead to? (fist derivative d(a*x^b)/d(x) = a*b*x^b-1)

Reference no: EM131071300

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