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Suppose that there are 2 identical firms in the market find

Oligopoly

Consider the market for a (homogeneous) product where inverse demand is

given by:

P=120-Q

A firm's cost function for producing the good:

C(q)=0.5q2+40q

1. Suppose that there are 2 identical firms in the market. Find the Cournot-Nash equilibrium

2. Suppose that there are two identical firms in the market but one acts as a quantity leader. Find the SPNE (Stackelberg) equilibrium

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