Question 1 Two firms are producing the same output. Firm i's cost of producing y_i units of output is c(y_i)=10y_i. Assume the demand for the product is y(p)=100-p.

Determine

1. the price, p;
2. the market share of each firm;
3. the output of each firm.

Question 2 Two firms are producing the same output. Firm i's cost of producing y_i units of output is c(y_i)=4y_i. However, each firm's cost of transporting the output to its final destination is different. For firm, these costs are 1 Dollars per unit, whereas they are 2 Dollars per unit for firm 2. Assume the demand for the product is y(p)=40-p.

Determine

1. the price, p;
2. the market share of each firm;
3. the output of each firm.

Question 3

• Three firms are producing the same output. Each firm i's cost of producing y_i units of output is the same as in Question 1, i.e., c(y_i)=10y_i. Assume the demand for the product is y(p)=100-p.

  Determine

  1. the price, p;
  2. the market share of each firm;
  3. the output of each firm.
• Repeat the argument with 9 firms.