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In a certain market, the demand curve for a pair of Cournot duopolistsproducing an identical product is given by P = 400 - 5Q. Firm
In a certain market, the demand curve for a pair of Cournot duopolistsproducing an identical product is given by P = 400 - 5Q. Firm 1 isconsidered to be identical to Firm 2, calculate the equilibrium price,quantity and profits for each firm where the constant marginal cost perunit of production is 25 for both firms. Show all your calculations for thispart of the question and the steps used to find the final answer.
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