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Karo-lina-s [1.5K]
3 years ago
15

You are given the market demand function Q = 3400 - 1000p, and that each duopoly firm's marginal cost is $0.28 per unit, which i

mplies the cost function: C (q_i) = 0.28q_i, assuming no fixed costs for i = 1, 2. The Cournot equilibrium quantities are q_1 = and q_2 = (enter your responses as whole numbers). The Cournot equilibrium price is $ (round to the nearest penny) Calculate the Cournot profits: firm 1 $ and firm 2 $ (round both responses to the nearest cent).

Business
1 answer:
kirza4 [7]3 years ago
3 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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