The total market profit is equal to what amount

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Reference no: EM131097156

Consider two firms with constant marginal and average costs, and equal to 10. Market demand is Q = 500 – 20P. Firms choose quantities simultaneously as in the Cournot model.

1) The solution for the Nash Equilibrium gives a total output equal to what amount?

2) The total market profit is equal to what amount?

Reference no: EM131097156

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