What is the homogeneous-good duopoly Cournot equilibrium if the market demand function is Q=4,000-1,000p, and Firm 1's and Firm 2's variable cost functions are V (g1) = 0.22q1andV (q2) = 0.22q2 respectively. Select one alternative: Both firms produce 1300 units of outpuit. Both firms produce 1280 units of output. Both firms produce 1240 units of output. Both firms produce 1260 units of output.

What is the homogeneous-good duopoly Cournot equilibrium if the market demand function is Q=4,000-1,000p, and Firm 1's and Firm 2's variable cost functions are V (g1) = 0.22q1andV (q2) = 0.22q2 respectively. Select one alternative: Both firms produce 1300 units of outpuit. Both firms produce 1280 units of output. Both firms produce 1240 units of output. Both firms produce 1260 units of output.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter12: Price And Output Determination: Oligopoly

Section: Chapter Questions

Problem 2E

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