Now suppose the firms still produce identical products, but…
Now suppose the firms still produce identical products, but now have individual total cost functions given by: where is the amount of 24-packs produced by Amheuser-Busch and is the number of 24-packs produced by Miller, all denoted in thousands. Find the reaction function of each firm when Amheuser-Busch and Miller simultaneously compete on quantity. It is not necessary to solve the model, and it is recommended that you not round your solution at any time.