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Suppose the natural gas industry consisted of only two firms. Let these firms have identical cost functions, C(q) = 40q. Assume the demand curve for

Suppose the natural gas industry consisted of only two firms. Let these firms have identical cost functions, C(q) = 40q. Assume the demand curve for the industry is given by P = 100 Q and that each firm expects the other to behave as a Cournot competitor

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