What quantities will they produce and what price will charge

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Two firms, A and B, each with a marginal cost of $50, form an oligopoly whose market demand is P = 650 − 10Q. If the market is defined by Cournot competition, what quantities will they produce and what price will they charge?

A quantity of 30 each and a price of $350

A quantity of 30 each and a price of $50

A quantity of 20 each and a price of $250

A quantity of 15 each and a price of $350

Reference no: EM13999420

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