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    Suppose the Demand for Pizza in a Small Isolated Town
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Suppose the Demand for Pizza in a Small Isolated Town

Question 49

Question 49

Essay

Suppose the demand for pizza in a small isolated town is p = 10 - Q.There are only two firms,A and B,and each has a cost function TC = 2 + q.Determine the Cournot equilibrium.

Correct Answer:

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Firm A's profit is π = [10 - (qA + qB)] blured image -...

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