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An industry consists of three firms

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An industry consists of three firms. All three have identical variable costs VC(q) = 5q + q2, but whereas Firms 2 and 3 have fixed costs of $2,000, Firm 1's fixed costs are $3,000. Market demand is Q = 335 - p and the firms play Cournot. What is the Herfindahl-Hirschman Index of the industry?

Reference no: EM131750186

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