Assume there is a market with only two profit maximizing, Business Economics

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Assume there is a market with only two profit maximizing

Assume there is a market with only two profit maximizing companies (duopol) where each company has MC = AVC = 20 and no fixed costs. Also assume that market demand is Q = 100 - 0.5p

a) If both companies compete and chooses their given supply quantities simultaniously, what would the best given supply quantity be for each company? What would the profit be for each company?

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Business Economics: Assume there is a market with only two profit maximizing

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Business Economics: Assume there is a market with only two profit maximizing

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