Hale's One Stop Gas and Auto Service competes with Murray's Gas and Service Mart. The local demand is given by: Hale's marginal cost function is: Murray's marginal cost function is: Given the demand relationship above, Hale's marginal revenue function is: Determine Hale's reaction function. Murray's marginal revenue function is: Determine Murray's reaction function. What is the Cournot solution?

Question

Hale's One Stop Gas and Auto Service competes with Murray's Gas and Service Mart. The local demand is given by:  Hale's marginal cost function is:  Murray's marginal cost function is:  Given the demand relationship above, Hale's marginal revenue function is:  Determine Hale's reaction function. Murray's marginal revenue function is:  Determine Murray's reaction function. What is the Cournot solution?

Quizplus · Accepted Answer

The Answer of Hale's One Stop Gas and Auto Service competes with Murray's Gas and Service Mart. The local demand is given by:  Hale's marginal cost function is:  Murray's marginal cost function is:  Given the demand relationship above, Hale's marginal revenue function is:  Determine Hale's reaction function. Murray's marginal revenue function is:  Determine Murray's reaction function. What is the Cournot solution?

Hale's One Stop Gas and Auto Service Competes with Murray's