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Consider a homogeneous-good, duopolistic market whose direct demand function is Q(P) = 1100 - 1100P If each firm's marginal cost is $0.25 per unit, what
Consider a homogeneous-good, duopolistic market whose direct demand function is Q(P) = 1100 - 1100P If each firm's marginal cost is $0.25 per unit, what is the Nash-Cournot equilibrium? Assume fixed costs are negligible. The Nash-Cournot equilibrium occurs where q, equals and q2 equals . (Enter numeric responses using real numbers rounded to two decimal places.) Furthermore, the equilibrium occurs at a price of $ . (Round your answer to the nearest penny.)
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