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Find the cournot-nash equilibrium in model

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Reference no: EM132593245

Consider the following oligopoly model.

The market demand is p(Q) = 100-Q. There are three identical firms 1, 2 and 3 producing the homogeneous product. Each firm has a constant marginal cost of 0. The three firms choose their outputs simultaneously , without observing the quantity decisions by others. Find the Cournot-Nash equilibrium in this model. Obtain the profits in equilibrium for each firm.

Reference no: EM132593245

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