If market inverse demand is p1(Q1) = a1-b1Q1 in market 1 and p2(Q2) = a2-b2Q2 in market 2, and the firm produces according to C(Q1,Q2) = cQ1+dQ12+eQ2, determine the firm's optimal quantity, price in each market, and profit level. (Assume that a1, a2, b1, b2, c, d, e > 0.) What conditions on b and d must hold in equilibrium?
This question was answered on: May 23, 2022
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