Question
Market demand for widgets is p = 160 - 2Q. Whether there is just one firm selling widgets or many firms selling widgets, the marginal
Market demand for widgets is p = 160 - 2Q. Whether there is just one firm selling widgets or many firms selling widgets, the marginal cost and average cost is 100. Assume there is one firm selling widgets. What is the equilibrium price (p) and quantity sold (Q)? Assume there are two firms selling widgets acting as Cournot duopolists (Firm 1 and Firm 2). What is the quantity sold for each firm? From question 11 (Cournot duopolists), what is the price of widgets?
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Macroeconomics
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
8th Canadian Edition
134646355, 9780134842615 , 978-0134646350
