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Question 2 Two firms compete in a simultaneous Cournot game, i.e. they simultaneously set quantities q, and q, to maximize profits. Inverse demand is P=300-2Q

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Question 2 Two firms compete in a simultaneous Cournot game, i.e. they simultaneously set quantities q, and q, to maximize profits. Inverse demand is P=300-2Q , where market quantity Q is Q= q +92 . Case 1: Each firm has marginal cost = 50. Question 2A: Derive and draw the best response functions Question 2B: What are equilibrium quantities

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