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The market demand curve for an industry with two identical firms is P =102-2Q, where Q = Q1+ Q2.The constant per unit marginal cost is 2 for each firm.
i) If the firms form a cartel to maximize industry profit,
a) what is the industry marginal revenue at the profit-maximizing level of output?
b) what is the marginal revenue for each firm at the industry profit-maximizing level of output?
ii) What is the industry level of output, if the firms act as Cournot duopolists?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9697584

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