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Given the function Compute Cournot Nash equilibrium.

Suppose two identical companies capable to produce widgets and they are the only companies in the market. Their costs are given by C1 = 5 (Q1 ) and C2 = 5 (Q2 ) respectively, where Q1 is the output of company one and Q2 is the output of company 2) Price is determined by the subsequent demand curve: (MC for each company is 5)

P= 100-Q, where Q = Q1 + Q2 .

Find the Cournot-Nash equilibrium.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M917113

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