What is the effect on price and profits if ge expands output/ Econometrics
For the answer you posted about a duolopoly in the large turbine industry What is the effect on price and profits if GE expands output by one unit? Please elaborate on the results you provided to the following problem: The large turbine generator industry is a duopoly. The two firms, GE and Westinghouse, compete through Cournot quantity setting competition. The demand curve for the industry is P=100-Q, where P is the price (in $millions) and Q is the total quantity produced by GE and Westinghouse. Currently, each firm has marginal cost of $40 and no fixed cost
