Consider a Cournot oligopoly with three firms i = 1; 2; 3. All firms have the same constant marginal cost c = 1. The inverse demand function of the mParket is given by P = 9Q, where P is the market price, and Q = (q1 + q2+q3) is the aggregate output. Solve for the Nash equilibrium of the game including firm outputs, market price, aggregate output, and firm proft

Consider a Cournot oligopoly with three firms i = 1; 2; 3. All firms have the same constant marginal cost c = 1. The inverse demand function of the mParket is given by P = 9Q, where P is the market price, and Q = (q1 + q2+q3) is the aggregate output. Solve for the Nash equilibrium of the game including firm outputs, market price, aggregate output, and firm proft

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter15: Imperfect Competition

Section: Chapter Questions

Problem 15.5P

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