What is the homogeneous-good duopoly Cournot equilibrium if the market demand function is Q=1,600 1,000p, and each firm's marginal cost is $0.28 per unit? The Cournot-Nash equilibrium occurs where q₁ equals 440 and q₂ equals 440. (Enter numeric responses using real numbers rounded to two decimal places.) Furthermore, the equilibrium occurs at a price of $ (Round your answer to the nearest penny.)

What is the homogeneous-good duopoly Cournot equilibrium if the market demand function is Q=1,600 1,000p, and each firm's marginal cost is $0.28 per unit? The Cournot-Nash equilibrium occurs where q₁ equals 440 and q₂ equals 440. (Enter numeric responses using real numbers rounded to two decimal places.) Furthermore, the equilibrium occurs at a price of $ (Round your answer to the nearest penny.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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