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The market demand curve for a pair of Cournot duopolists is given as: P = 60...

The market demand curve for a pair of Cournot duopolists is given as: P = 60 – 3Q. The constant per unit marginal cost is $6/unit for each duopolist. (Round your answers to two decimal points)

a) Find the Cournot equilibrium price, quantity, and profits

b) Solve the same problem as a Bertrand equilibrium. Find the longrun equilibrium price, quantities, and profits.

c) Solve the same problem as a Stakelberg Leader-Follower equilibrium. Assume Firm 1 is the leader.

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Expert Solution

Rahul Sunny answered 6 months ago
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