Question 2: Demand in an industry is P = 132 – 2*Q The industry is a...

Question 2: Demand in an industry is P = 132 – 2*Q
The industry is a duopoly, with both firms producing an identical good, though with different cost
functions:
Firm 1’s cost function is C(q) = 10*q
Firm 2’s cost function is C(q) = 8*q
Calculate the Cournot equilibrium quantities, the equilibrium price, and Consumer Surplus.

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Rahul Sunny answered 9 months ago

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