Calculate equilibrium quantities for both cournot duopolists

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Problem: The market demand function for a pair of Cournot duopolists is given as Q = 12 -P, where Q = Q1 + Q2. Both firms have the same Total Cost function: Ci(Qi) = 18Qi for i=1,2.

Required:

a. Calculate the equilibrium quantities for both Cournot duopolists (and).

b. Calculate the equilibrium prices for both Cournot duopolists (and).

c. Calculate the profits for both Cournot duopolists profits (and).

Reference no: EM132422762

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