Problem
Return to the example used in the text for the Cournot model, where demand was equal to ournot model, where demand was equal to
Q = 120- P
Suppose that instead of costless production, marginal and average costs are constant at
MC = AC = 30
Compute the Nash equilibrium quantities, prices, and profits.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.