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Two firms compete in a market to sell a homogeneous product with inverse demand function: P = 400 - 2Q . Each firm produces at
Two firms compete in a market to sell a homogeneous product with inverse demand function:P = 400 - 2Q. Each firm produces at a constant marginal cost of $50 and has no fixed costs -- both firms have a cost functionC(Q) = 50Q.
If this market is defined as a Cournot Oligopoly, what is the optimal amount for firm 1 to produce? (Round to the nearest whole number)
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