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Suppose that there are three firms in a homogenous good oligopoly: Firm 1, Firm 2 and Firm 3. The firms have different marginal costs (c1=c2=30

Suppose that there are three firms in a homogenous good oligopoly: Firm 1, Firm 2 and Firm 3. The firms have different marginal costs (c1=c2=30 and c3=60). The market demand is given by : P=300-Q. Suppose that these firms compete in a Cournot fashion. Calculate the equilibrium quantities, price and profits of each firm.

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