Solve for the monopoly profits-quantity and price

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Suppose two firms compete in an industry with an inverse demand function given by P= 200-2Q. Each firm has a marginal cost of $40. 

a. Solve for the monopoly profits, quantity, and price.

b. Solve for the Cournot Nash Equilibrium. State the quantities and profits for each firm and the market price.

Reference no: EM131943507

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