The market demand curve for a pair of Cournot duopolists is given as P = 36 – 3Q, where Q = Q₁ + Q₂. The constant per unit marginal cost is 18 for each duopolist. Find the Cournot equilibrium price, quantity, and profits.
The market demand curve for a pair of Cournot duopolists is given as P = 36 – 3Q, where Q = Q₁ + Q₂. The constant per unit marginal cost is 18 for each duopolist. Find the Cournot equilibrium price, quantity, and profits.
Chapter1: Making Economics Decisions
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![The market demand curve for a pair of
Cournot duopolists is given as P = 36 - 3Q,
where Q = Q₁ + Q₂. The constant per unit
marginal cost is 18 for each duopolist. Find
the Cournot equilibrium price, quantity, and
profits.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F295fd57e-125d-4c83-8c30-33e119b97b32%2F326b3296-de4e-4181-8a01-81559518c716%2F3em6zsl_processed.png&w=3840&q=75)
Transcribed Image Text:The market demand curve for a pair of
Cournot duopolists is given as P = 36 - 3Q,
where Q = Q₁ + Q₂. The constant per unit
marginal cost is 18 for each duopolist. Find
the Cournot equilibrium price, quantity, and
profits.
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