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What are the cournot competition quantities and profits

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SS and LG are duopoly cell phone producers in S. Korea. Both firms are seeking to expand the 4GB cell phone market in Dubai. The managerial team is carefully studying the level of competition and the market demand for 4 GB cell phone. A study shows that the market demand curve for 4GB cell phone is P = 180 -Q. Also, they conclude that there are will be no competitors other than SS and LG, if they both enter, in Dubai at least for a few years. Both firms have similar MC: MCSS=40 and MCLG= 44.

  • What are the Cournot competition quantities and profits?
  • What would be the monopoly output and profit if only one firm enter?

 

Reference no: EM132587518

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