I need help with this homework: P-190--0 Suppose the marginal cost (ei) of firm

Question

I need help with this homework:

P-190--0 Suppose the marginal cost (ei) of firm 1 is $o.5 and marginal cost (ea) of firm 2 is $2.00. 8. What is the equation for marginal revenue (MR) for firm 1? a MR1-190-2Q1-2Q2 b. MRI 190-1-202 c, Mh-190-2Q1-Q2. 9. What is the reaction function for firm 2? a. Q2 = (190-0.5)/2-1/20 b. 0 (190- 2)/2-1/201 c. Q2 = (190-2)/4--1/29. 10. A decrease in the marginal cost (c2) of firm 2 would lead to: a. A downward shift in the reaction function of firm 2 and an increase in its profit. b. An upward shift in the reaction function of firm 2 and will increase the profit of this firm. c. No shift in the reaction function of any firm and no change in profit. 11. How do managers formulate their beliefs in this Cournot oligopoly? a. Each manager will match other managers' decisions when they lower the price but will not match their price increases. b. Each manager changes its output assuming the other managers will keep its output constant. Each manager will increase its output if other managers increase their output and vice versa. c. Questions 12-15 Assume there are five firms in the industry whose individual S sales (S%, i -1, 2,., .5) are as given in the table below. Assume that market Ep2.8.

Explanation / Answer

8) The answer is C-) 190 - 2Q1 - Q2

P = 190-Q1 - Q2

TR = 190Q1 - Q12 - Q1Q2

MR = 190 - 2Q1 - Q2

9) THe answer is B -) (190-2 ) / 2 - 1/2Q1

MC of firm 2 = 2

MR of firm 2 = 190 - 2Q2 - Q1

reaction curve

190 -2Q2 -Q1 = 2

Q2 = (190-2 ) / 2 - 1/2Q1

10) please upload it again. its agains chegg polciy

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