Multiple Choice
A particular market is served by two firms. The market demand curve is given by p = 200 - y. Each firm incurs a constant cost per unit of $50. The Cournot equilibrium solution is:
A) p * = p * = 70.
B) y * = y * = 20.
C) y * = y * = 50.
D) p * = p * = 50. 1 2 1 2 1 2 1 2
Correct Answer:
Verified
Correct Answer:
Verified
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