Consider a cournot duopoly model with inverse market demand, Business Economics

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Consider a cournot duopoly model with inverse market demand

Consider a Cournot duopoly model with inverse market demand function p = 60 - q1 - q2. Firm i's cost function is (qi)^2+10qi for i = 1 and 2.

(a) Find the Nash equilibrium outcome ( firms' outputs).

(b) Find the collusive outcome ( firms' outputs), and show it is not an equilibrium.

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Business Economics: Consider a cournot duopoly model with inverse market demand

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Business Economics: Consider a cournot duopoly model with inverse market demand

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