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A Cournot Oligopoly Has 19 Firms, and Inverse Market Demand P=60−QP = 60 - Q

Question 23

Multiple Choice

A Cournot oligopoly has 19 firms, and inverse market demand P=60−QP = 60 - Q . All firms have marginal cost, MC=$20M C = \$ 20 . The equilibrium output for each firm will be:


A) 1 unit
B) 2 units
C) 3 units
D) 4 units

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