Economics

Given P=140-0.6Q, TC1=7q1, TC2=0.6q2 the power of 2. A. Determine the short run equilibrium output of each duopoly ignoring their Independence ( with naive assumptions). B. What is the short run market price ? C. Find the demand functions of the duopolies ( the reactions curves or graphic solution of cournot model & draw) & show the short run output levels. D. calculate the short run profit of each duopoly & the industry profit. E. verify the economic profit of each duopoly graphically.

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  1. what is the short run market price?

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  2. Given P=140-0.6Q, TC1=7q1, TC2=0.6q2 the power of 2. A. Determine the short run equilibrium output of each duopoly ignoring their Independence ( with naive assumptions). B. What is the short run market price ? C. Find the demand functions of the duopolies ( the reactions curves or graphic solution of cournot model & draw) & show the short run output levels. D. calculate the short run profit of each duopoly & the industry profit. E. verify the economic profit of each duopoly graphically.

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  3. its not clear for me

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