Question
The general form of the inverse demand curve is P = a - bQ.In one market, the specific inverse demand is P = 100 -
The general form of the inverse demand curve is P = a - bQ.In one market, the specific inverse demand isP = 100 - 1/3Qand the marginal cost for all firmsis MC = 25.
Six firms compete in a Cournot oligopoly.
a. How much will each firm produce in equilibrium?
b. What is the total market supply?
c. What is the equilibrium price?
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Macroeconomics Principles Applications and Tools
Authors: Arthur O'Sullivan, Steven Sheffrin, Stephen Perez
9th edition
978-0134089027, 134089022, 978-0134420684
