2) Consider the oligopolistic market for robotic lawnmowers. The cost function of all firms is given...

2) Consider the oligopolistic market for robotic lawnmowers.

The cost function of all firms is given by C_i = 180Q_i
Demand for robotic lawnmowers is given by Q_D = 24,000 – 80P

Find the optimal production for one firm, the total quantity, and the price as functions of the number of firms n
Suppose n = 4. Find numeric values for the variables in 2)a)

Expert Solution

Rahul Sunny answered 7 months ago

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