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Determine the output and price under a cournot equilibrium

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Reference no: EM13331437

Consider a market for a homgeneous product with demand given by Q = 37.5 - .25P. There are two firms, each with a constant marginal cost equal to 40.

a. Determine the output and price under a cournot equilibrium.

b. Determine the output and price under a Bertrand equilibrium.

Reference no: EM13331437

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