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Two identical firms compete as a Cournot duopoly. The demand they face is P = 600 5Q. The cost function for firm 1 is C

Two identical firms compete as a Cournot duopoly. The demand they face is P = 600 5Q. The cost function for firm 1 is C1(Q1) = 20Q1,and the cost function for firm 2 is C2(Q2) = 40Q2. The equilibrium price charged in the market is

$220.

$400.

$420.

$360.

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