If an industry is a cournot duopoly what are the firmrsquos, Business Economics

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If an industry is a cournot duopoly what are the firmrsquos

Use the following demand and marginal cost information to answer the questions:

Market Demand à P = 20 – (9/2) Q

Marginal Cost = 2

a. If an industry is a Cournot duopoly, what are the firm’s reaction functions?

b. If an industry is a Cournot duopoly, what is the equilibrium price and output? What are the profits for each firm?

c. Illustrate the firm’s pricing and output decision in a graph.

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Business Economics: If an industry is a cournot duopoly what are the firmrsquos

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Business Economics: If an industry is a cournot duopoly what are the firmrsquos

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