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Suppose that the market demand for pumpkins is: P = 80 -
Suppose that the market demand for pumpkins is: P = 80 -.75Q, Q is the market quantity produced. In addition, suppose that there are two firms, A and B, both who are selling pumpkins, and that both of these firms have a constant marginal and average total cost of $5. Fill in the table below for each market structure using the demand and cost functions above.
| Perfect Competition | Monopoly | Oligopoly (Counot) | Oligopoly (Bertrand) | Oligopoly (Stackelberg) | |
| Quantity (firm A) | |||||
| Quantity (firm B) | |||||
| Industry Quantity | |||||
| Price (P) | |||||
| Profit (firm A) | |||||
|
Profit (firm B) |
Industry profit =
Now consider how would the answers above change if the firms merged and became a monopolist who could practice 1st degree price discrimination?
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