(Answered) Suppose two firms compete in an industry with an inverse

Economics

Suppose two firms compete in an industry with an inverse demand function given by P= 200-2Q. Each firm has a marginal cost of $40.

a. Solve for the monopoly profits, quantity, and price.

b. Solve for the Cournot Nash Equilibrium. State the quantities and profits for each firm and the market price.

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