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a) Cournot duopolists face a market demand curve given by P = 90 - O where O is total market demand. Each firm can produce

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a) Cournot duopolists face a market demand curve given by P = 90 - O where O is total market demand. Each firm can produce output at a constant marginal cost of 30 per unit. If the duonolists behave as a shared monopoly, the equilibrium price and total quantity of output will be? b) Because of their unique expertise with explosives, the Zambino brothers have long enjoyed a monopoly of the European market for public fireworks displays for crowds above a quarter of a million. The annual demand for these fireworks displays is P = 160 - 10. The marginal cost of putting on a fireworks display is 46. A family dispute broke the firm in two. Alfredo Zambino now runs one firm and Luigi Zambing runs the other. They still have the same marginal costs, but now they are Cournot duopolists. How much profit has the family lost

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