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An industry has two firms. The inverse demand function for this industry is p = 263 6q. Both firms produce at a constant unit cost
An industry has two firms. The inverse demand function for this industry is p = 263 6q. Both firms produce at a constant unit cost of $29 per unit. What is the Cournot equilibrium price for this industry?
a) $29.
b) $31.
c) $107.
d) $53.50
e) None of the above.
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