question archive Consider two identical firms (A and B) that face the following linear market demand curve and marginal cost: P = 1200 - Q, where Q = Q1 + Q2 and MC = 0
Consider two identical firms (A and B) that face the following linear market demand curve and marginal cost: P = 1200 - Q, where Q = Q1 + Q2 and MC = 0
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Consider two identical firms (A and B) that face the following linear market demand curve and marginal cost:
P = 1200 - Q, where Q = Q1 + Q2 and MC = 0.
a) Derive firms A and B output-reaction curves.
b) Calculate the Cournot equilibrium quantity per firm and price in this market.
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