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Using the Cournot Duopoly model: Market Demand:P = 1600 - Q Marginal Cost is the same for both firms:MC = 10 a. Find the reaction

Using the Cournot Duopoly model:

Market Demand:P = 1600 - Q

Marginal Cost is the same for both firms:MC = 10

a.Find the reaction function for both firms.

b.Find the Nash Equilibrium - how much will each firm produce?

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