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:

Survey Of Economics
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ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter8: Monopoly
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The market demand curve for a pair of Cournot duopolists is given as P= 34 - 2Q, where Q =Qq+ 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:
5:40
Quantity:
d
Profits:
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Transcribed Image Text:The market demand curve for a pair of Cournot duopolists is given as P= 34 - 2Q, where Q =Qq+ 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: 5:40 Quantity: d Profits: < Prev 10 of 10 Next 00:21 14/02/202. ere to search acer
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