Question: 2 . Let ( c _ { i } ) be the constant marginal and average cost for firm ( i
Let ci be the constant marginal and average cost for firm i so that firms may have different marginal costs Suppose demand is given by PmathrmQ
a Calculate the Nash equilibrium quantities assuming there are two firms in a Cournot market. Also compute market output, market price, firm profits, industry profits, consumer surplus, and total welfare.
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