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The market demand for a good is given by P = 10 - Q , where Q is the total quantity supplied in the market.
The market demand for a good is given by P = 10 - Q, where Q is the total quantity supplied in the market. The demand curve implies that the monopoly marginal revenue is MR =10 - 2Q. If this market is a duopoly, assume the cost for each firm is given by Ci =0,that is C1 = 0 for firm 1, and C2 = 0 for firm 2. Thus the marginal cost for the firms is given by MC1 = MC2 = 0.Label the following in the same diagram (show both position and values).
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