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Graph the demand and marginal cost curves in the industry. i. Identify in the graph the competitive equilibrium price P c and quantity Q c
Graph the demand and marginal cost curves in the industry. i. Identify in the graph the competitive equilibrium price P c and quantity Q c . ii. Identify in the graph the Cournot equilibrium price P Cournot and quantity Q Cournot. g) Under a Cournot equilibrium, what is the value of the consumer surplus? h) Under a Cournot equilibrium, what is the value of the producer surplus? i) What is the amount of deadweight loss created by the Cournot duopoly, if any?
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