8. [5] Consider the following: five identical firms choose how much of a homogenous good to produce. The each have a marginal cost of $5
8. [5] Consider the following: five identical firms choose how much of a homogenous good to produce. The each have a marginal cost of $5 to produce a unit of the good and they face a market demand of Q = 100 - 2P. Use the Cournot solution with N firms (where N a 1) to solve for the output of each firm, the aggregate output of the homogenous good, and the price level
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