3. Suppose there are n firms in the Cournot oligopoly model. Let qi denote the quantity produced by firm i, and let Q = q1
3. Suppose there are n firms in the Cournot oligopoly model. Let qi denote the quantity produced by firm i, and let Q = q1 +... +qn denote the aggregate quantity on the market. Let P denote the market-clearing price and assume that inverse demand is given by P (Q) = y - Q (assuming Q 0
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