Firms L and M are the only two providers of a homogenous output in a market with inverse demand given by P 200 Q, where Q is the sum of Firm L and Firm M's output, Q = q+ Firm L's costs are %3! given by TCL = 20qL, and I's are given by TCM q %3D 5. Suppose Firms L and M Cournot compete in this market. What value of Q will be produced in this market?

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A: Here, the given graph shows cost and revenue curves of a natural monopoly. 

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A:

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Q: 5

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A:

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A: Solution:- 

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A:

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A: Answer(h) Fixed Cost.

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A: Market Demand : P=100-y1-y2 Cost of firm 1: 75+8y1 Cost of firm 2: 100+12y2   Firm1 TR1=Py1 TR1=100y...