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Calculate the equilibrium price and quantity

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Reference no: EM131934758

There are 19 firms in a cournet model. All firms in the cournot industry have the same cost function C(q) = 25+10q. Market demand is Q=110-p.

i) Calculate the equilibrium price and quantity?

ii) What if technical innovation were to reduce unit production costs by $5? Calculate equilibrium price and quantity?

Reference no: EM131934758

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