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Assume now that firm1 has a constant marginal cost of 1 and

Assume now that Firm1 has a constant marginal cost of 1 and Firm 2 has a constant marginal cost of 2. the new market demand is: Q = 15-P.

1) Solve for the Cournot equilibrium price, quantities, profits and consumer surplus

2) If the firms merge and produce at the lower marginal cost, how do the equilibrium values changes?

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Microeconomics: Assume now that firm1 has a constant marginal cost of 1 and

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Microeconomics: Assume now that firm1 has a constant marginal cost of 1 and

Reference No:- TGS01549228

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