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1) A market has two firms where total market demand is P = 1600 - Q . The cost to any firm of producing q

1) A market has two firms where total market demand is P = 1600 - Q . The cost to any firm of producing q units of output is q^2. Find the Cournot equilibrium outputs and market price.

Answer the next two questions based on the following game:

2) Are there any pure strategy equilibria?

3) Find the mixed strategy equilibrium.

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