Question: Return to the example used in the text for the Cournot model, where demand was equal to Q = 120 P Suppose that instead

Return to the example used in the text for the Cournot model, where demand was equal to Q = 120 – P

Suppose that instead of costless production, marginal and average costs are constant at MC = AC = 30

Compute the Nash equilibrium quantities, prices, and profits.

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