Consider a market with two dominant firms (curnot duopoly) producing a homogenous product.
The inverse market demand function is given by
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Expert's answer
2017-10-27T13:55:06-0400
According to the Cournot duopoly, the inverse market demand function is given by P=a-b*(Q1+Q2), Q1 – quantity of production of the first firm, Q2 – quantity of production of the second firm.
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