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Course: Microeconomics - Competitive Strategy and Market Structure 2 duopolistic firms competing according to Cournot Model and facing a market demand P = 56 -
Course: Microeconomics - Competitive Strategy and Market Structure
2 duopolistic firms competing according to Cournot Model and facing a market demand P = 56 - 2Q. Moreover, each firm produces with a marginal cost (MC) equal to 20. 1. Calculate and plot the reaction functions. 2. Find the equilibrium price and quantity
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