question archive Consider a Cournot duopoly with the inverse demand P=260−2QP=260−2Q
Consider a Cournot duopoly with the inverse demand P=260−2QP=260−2Q
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Consider a Cournot duopoly with the inverse demand P=260−2QP=260−2Q . Firms 1 and 2 compete by simultaneously choosing their quantities. Both firms have constant marginal and average cost MC=AC=20MC=AC=20. Find each firm's best response function. Then, find the Cournot-Nash equilibrium quantities, profits and market price.
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