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The inverse market demand in a homogeneous-product Cournot duopoly is P = 4.120 -2(Q1+Q2) and costs are Ci(Q,) = 3 0, and C2(02) = 2

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The inverse market demand in a homogeneous-product Cournot duopoly is P = 4.120 -2(Q1+Q2) and costs are Ci(Q,) = 3 0, and C2(02) = 2 Q2. a. Determine the reaction function for each firm; b. Calculate each firm's equilibrium output and the market price. Use a diagram to show the Cournot Equilibrium. Find also revenue for each firm; c. Explain the similarities and differences between Cournot, Sweezy, and Stackelberg model

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