Question: An industry has two firms. The inverse demand function for this industry is p = 263 6q. Both firms produce at a constant unit cost

An industry has two firms. The inverse demand function for this industry is p = 263 6q. Both firms produce at a constant unit cost of $29 per unit. What is the Cournot equilibrium price for this industry?

a) $29.

b) $31.

c) $107.

d) $53.50

e) None of the above.

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