# Homework: Assignment 2_w19 Score: 0 of 11 pts 5 of 7 (5 complete) HW Score: 20.69%,...

###### Question:

Homework: Assignment 2_w19 Score: 0 of 11 pts 5 of 7 (5 complete) HW Score: 20.69%, 6 of 2 Question Help Instructor-created question Consider two firms facing the demand curve P-75-5Q 18 17 where QQ1 +Q2. The firms' cost functions are 1(Q1) -15+ 100, 13 12 and C2 (2) 5+2002 Suppose that both firms have entered the industry. What is the joint profit-maximizing level of output? How much will each firm produce? Combined, the firms will produceunits of output, of which Firm 1 will produceunits and Firm 2 will produce units. (Enter a numeric response using a real number rounded to two decimal places.) What is each firm's equilibrium output and profit if they behave noncooperatively? Use the Cournot model 0 1 2 3 45 6 789 10 11 12 13 14 15 16 17 18 Firm 2's output If the firms compete, then Firm 1 will produceunits of output and Firm 2 will produce units of output
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