Homework answers / question archive / A perfectly competitive market is in equilibrium and 50,00050,000 units are being produced

A perfectly competitive market is in equilibrium and 50,00050,000 units are being produced

Marketing

Share With

A perfectly competitive market is in equilibrium and 50,00050,000 units are being produced. If four firms take over this market and a Cournot oligopoly is formed, what is the new total equilibrium quantity produced?

(a) 40,00040,000

(b) 62,50062,500

(c) 50,00050,000

(d) 60,000