Assume that there are two identical firms in an industry, Business Economics

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Assume that there are two identical firms in an industry

Assume that there are two identical firms in an industry, each producing the same good at the same constant marginal cost of $60. Consumer Demand is given by:

P = 600 – 20*Q

Make a table, similar to the one we made in class, for the Bertrand, Cournot and Monopoly models, showing the following: equilibrium price; individual and aggregate outputs; individual and aggregate profits.

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Business Economics: Assume that there are two identical firms in an industry

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