f there are two firms Atlas and Bowden in this market with the total cost function TC = 500 + 10Q^2 and they engage in Cournot competition, what is each firm's equilibrium quantity, price, and profit? [NB: round quantities to nearest integer to find equilibrium quantity, price, and profit]

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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If there are two firms Atlas and Bowden in this market with the total cost function TC = 500 + 10Q^2 and they engage in Cournot competition, what is each firm's equilibrium quantity, price, and profit? [NB: round quantities to nearest integer to find equilibrium quantity, price, and profit]

© or + ७००
10
12
P
२२०
200
180
160
140
120
100
TR
०
400
MR
।
400
३२०
720
960 240
1120
1200
1200
TC
500
540
660
860 100
MC
160 1140
80
O
२०
60
140
1500
180
1940 | 220
गू
-500
- 140
60
loo
-२०
- 300
-740
Transcribed Image Text:© or + ७०० 10 12 P २२० 200 180 160 140 120 100 TR ० 400 MR । 400 ३२० 720 960 240 1120 1200 1200 TC 500 540 660 860 100 MC 160 1140 80 O २० 60 140 1500 180 1940 | 220 गू -500 - 140 60 loo -२० - 300 -740
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  1. Is this a long run equilibrium? Why or why not?

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