Cournot Oligopoly Problem

Описание к видео Cournot Oligopoly Problem

This video goes through the following Cournot duopoly problem.

The demand function in an industry is given by:
P = 100 - 2(Qa + Qb)

The marginal cost of production is $4 per unit produced, and this is true for both firms. Both firms make their decisions at the same time, so it is a simultaneous moves game.

Find the quantity that each firm will produce, and the market price in this industry.

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