Suppose that identical duopoly firms have constant marginal costs of .pdf

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Suppose that identical duopoly firms have constant marginal costs of $25 per unit. Firm 1 faces a demand function of q1=1002p1+1p2 where q1 is Firm 1's output, p1 is Firm 1's price, and p2 is Firm 2's price. Similarly, the demand Firm 2 faces is q2=1002p2+1p1 Solve for the Bertrand equilibrium. In equilibrium, p1 equals $ and p2 equals $ (Enter numeric responses using integers.) At these prices, q1 equals and q2 equals The total quantity supplied is.

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