In a Cournot Oligopoly market with the demand function p=220−0.5⋅Q there are 2 firms producing homogeneous...

In a Cournot Oligopoly market with the demand function p=220−0.5⋅Q there are 2 firms producing homogeneous product. The total cost functions of the first and second firm are TC1=15+4⋅q1TC1=15+4⋅q1 and TC2=20+5⋅q2TC2=20+5⋅q2, respectively. Firms choose their output levels simultaneously. Calculate the output level for firm 1 in equilibrium. Round you answer to the first decimal place.

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Rahul Sunny answered 1 year ago

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