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Consider a Cournot duopoly market (two firms, simultaneous quantity competition). Demand is given by p=120-Q, each firm's cost function is C(q)=30q. Find the Cournot equilibrium
Consider a Cournot duopoly market (two firms, simultaneous quantity competition). Demand is given by p=120-Q, each firm's cost function is C(q)=30q. Find the Cournot equilibrium quantity of each firm.
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Macroeconomics Theories and Policies
Authors: Richard T. Froyen
10th edition
013283152X, 978-0132831529
