Solve for the total quantity of all the firms and the price

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Reference no: EM13160215

1. Consider the demand function P=16-Q and Total Cost =4q for each firm. Where Q is the total quantity of all firms in the market and q is the quantity of a single firm. Suppose there are n firms in the economy.

a) Solve for the total quantity of all the firms and the price in equilibrium as a function of n under Cournot.

Reference no: EM13160215

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