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.Economists are often asked to help the Department of Justice evaluate the costs and benefits of mergers. Consider a market where two firms engage in

.Economists are often asked to help the Department of Justice evaluate the costs and benefits of mergers. Consider a market where two firms engage in Cournot competition. They face inverse industry demand curve P=2512Q. The firms each face a marginal cost of $1. A. What is the equilibrium price under Cournot competition? B. How much does each firm produce?

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