tioneetionee1221 tioneetionee1221

19-12-2022
Business

Answered

Assume there are two firms, firm A and B, engaged in Cournot competition. The industry demand curve is given by P = 772 - Q, where Q = QA + QB denotes industry output. Each firm faces a marginal cost of production equal to $88. In equilibrium, what will be the industry level of output?

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