## Answers

Best response, Firm 1: q1 = 28 - 0.5q2.........(1)

Best response, Firm 2: q2 = 35 - 0.5q1.........(2)

**(Part e)**

Plugging (2) into (1),

q1 = 28 - 0.5 x (25 - 0.5q1)

q1 = 28 - 12.5 + 0.25q1

0.75q1 = 15.5

**q1 = 20.67**

**q2 =** 35 - (0.5 x 20.67) = 35 - 10.34 = **24.66**

**Q =** 20.67 + 24.66 = **45.33**

**P =** 80 - 45.33 = **34.67**

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