Assume that two identical firms in a purely oligopolistic industry selling a homogenous product agree to share the maket equally. The total market demand function for the commodity is Qd = 240 - 10P. The cost schedules of the firms are given in the following table:
q1 40 50 60 80 q2 50 70 100
SMC1 (Rs.) 8 10 12 16 SMC1 (Rs.) 4 6 9
SAC1 (Rs.) 13 12.3 12 13 SAC1 (Rs.) 7 6 7
Find mr1 when q1=40?
1
Expert's answer
2020-05-18T11:26:46-0400
We plot the dependency data. The thin line shows the dependencies for q1, and the thick line for q2.
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