Question
Two duopolist firms, 1 and 2, sell a homogeneous good in
a market with the demand function Q=100−2P, where Q is the quantity demanded at price P. Firms 1 and 2 have constant marginal costs of 0 and 30, respectively. The firms simultaneously announce prices, and consumers buy from the firm whose price is lower. If the firms choose the same price, all the consumers buy from firm 1. Firm 1's equilibrium price is:Solution
The profit percentage of M and N are the same on selling the articles at Rs. 2800 each but M calculates his profit on the selling price while N calcula...
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An automobile agency launched a scheme that if a customer purchased two Jabas Discover bikes, one extra Jabas Discover will be free and if he purchases ...
