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Find the optimal cournot outputs and associated profits

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Reference no: EM133596686

Problem: Suppose there are two firms competing as Cournot oligopolists facing the following market demand curve: Q=24-1/5P where Firm#1 has costs given by MC1=20 and Firm #2 has costs given by MC2=20. Find the optimal Cournot outputs and associated profits.

Reference no: EM133596686

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