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Two firms intel and AMD in the CPU market have combined demand given by Q = 100-2p
Two firms intel and AMD in the CPU market have combined demand given by Q = 100-2p.
Their costs are given by = 2 Q + Q² Intel TC AMD = 2Q
If they cannot AMD AMD successfully collude & Instead produce where the market Price equals marginal cost the market price will be?
Expert Solution
Answer:
Market price is 34.
We follow the standard calculation techniques, equate Marginal cost of each firm to the market price and substitute in the market demand equation. After calculation we get the market demand as 16+16=32 and market price equal to 34.
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