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An incumbent? firm, Firm? 1, faces a potential? entrant, Firm? 2, with a lower marginal cost.
sThe market demand curve
P=130-q1-q2
Firm 1 has a constant marginal cost of ?$40 per? unit,
Firm? 2 has a constant marginal cost of ?$10
To block? entry, the incumbent appeals to the government to require that the entrant incur extra costs. Suppose that the legal intervention imposed by the government leaves the marginal cost alone? (at ?$10 for Firm? 2) but imposes a fixed cost. What is the minimal fixed cost that will prevent? entry?
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