Problem
Suppose that the market demand for cobalt is given by Q = 200 - P. Suppose that the industry consists of 10 firms, each with a marginal cost of $40 per unit. What is the Cournot equilibrium quantity for each firm? What is the equilibrium market price?
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.