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Suppose in a Cournot Duopoly That Two Firms, Firm 1 P=50−P = 50 -

Question 12

Multiple Choice

Suppose in a Cournot duopoly that two firms, Firm 1 and Firm 2, face market demand P=50−P = 50 - QQ and both have marginal cost, MC=$20M C = \$ 20 . The equilibrium industry profits in this market will be:


A) 150
B) 200
C) 250
D) 300

Correct Answer:

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