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Two identical firms have similar cost functions; C = cq & C = cq . Inverse demand for function for the good Q is given
Two identical firms have similar cost functions; C = cq & C = cq. Inverse demand for function for the good Q is given by P= a-Q, where Q=q+q. Solve for EQUILIBRIUM PRICE, EQUILIBRIUM QUANTITY, and PROFIT of each firm under the Cournot solution model.
Please provide a graphical illustration. Thank you!
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