Multiple Choice
Two identical firms compete as a Cournot duopoly.The demand they face is P = 100 − 2Q.The cost function for each firm is C(Q) = 4Q.Each firm earns equilibrium profits of:
A) $1,024.
B) $2,048.
C) $4,096.
D) $512.
Correct Answer:
Verified
Correct Answer:
Verified
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