Suppose two firms operate under the conditions of constant average and marginal costs. However,…


Suppose two firms have-effect below the provisions of invariable middle and final requires. However, Firm A's final require is 10, timeliness Firm B's final require is 8. Demand for the market is consecrated by Q = 500 - 20p.
1) Assuming twain firms usage Bertrand race, rate the Nash Equilibrium.
2) Rate each firm's output, each firm's avail, and diligence output.
3) Is the sum thrift maximized? If not, denote which termination would maximize sum thrift and scold the lifeless moment missing in the Nash Equilibrium compared delay your termination.