Consider two firms with constant marginal and average costs, Business Economics

Consider two firms with constant marginal and average costs

Consider two firms with constant marginal and average costs, and equal to 10. Market demand is Q = 500 – 20P. Firms choose quantities simultaneously as in the Cournot model.

1) The solution for the Nash Equilibrium gives a total output equal to what amount?

2) The total market profit is equal to what amount?

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Business Economics: Consider two firms with constant marginal and average costs

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Business Economics: Consider two firms with constant marginal and average costs

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