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QUIZ10 - Both firms in the industry have a total cost...

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Econ 301: Intermediate Microeconomic Theory NAME: Korinna K. Hansen Quiz 10 You can use the back of this page as scrap. We will not look at the back when grading this quiz, so you should present your complete answer by the question. A duopoly faces the demand curve D(p) = 30 - .5p.
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Unformatted text preview: Both firms in the industry have a total cost function given by C(q) = 4 q. Suppose that firm 1 is a Stackelberg leader in choosing quantity first. What is firm 1’s profit function?...
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