Suppose there are three identical firms engaged in quantity competition. The demand is P = 1...

Suppose there are three identical firms engaged in quantity competition. The demand is P = 1 − Q where Q = q1 + q2 + q3. To simplify, assume that the marginal cost of production is zero. Compute the Cournot equilibrium (i.e., quantities, price, and profits).

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Rahul Sunny answered 1 year ago

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