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What is the market total output

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Solve for the Cournot-Nash equilibrium outputs for both firms. What is the market's total output? What is the market price at the equilibrium? How much profit does each firm earn? Show your work.

q1 = 100 - ½(100-1/2q1)

q1 = 100-50 + (¼)q1

(¾)q1 = 50

q1* = 50(4/3)

q1* = 66 (?)

Reference no: EM132843032

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