The market demand curve for a pair of Cournot duopolists is given as P= 34 - 2Q, where Q=Q+ Q2 The constant per unit marginal cost is 16 for each duopolist. Find the Cournot equilibrium price, total quantity, and total profits. (Round your answers to 1 decimal place (e.g., 32.1).) Equilibrium Price: Quantity: Profits:
The market demand curve for a pair of Cournot duopolists is given as P= 34 - 2Q, where Q=Q+ Q2 The constant per unit marginal cost is 16 for each duopolist. Find the Cournot equilibrium price, total quantity, and total profits. (Round your answers to 1 decimal place (e.g., 32.1).) Equilibrium Price: Quantity: Profits:
Chapter8: Monopoly
Section: Chapter Questions
Problem 3SQ
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