Homework answers / question archive / A Cournot oligopoly has tw0000o identical firms whose total costs are TC = 1,000+ 12qwhere q, is firm i's output

A Cournot oligopoly has tw0000o identical firms whose total costs are TC = 1,000+ 12qwhere q, is firm i's output

Economics

Share With

A Cournot oligopoly has tw0000o identical firms whose total costs are TC = 1,000+ 12qwhere q, is firm i's output. The inverse demand for the market is P = 120 - 0/6, where is total output. a. Derive the firms' reaction curves. b. Calculate the Cournot equilibrium values of 91, 92 and P. c. If there are five firms with TC = 1,000 + 129, what are the Cournot equilibrium values of each firm's output and P?