Question: Bonus Problem # 2 ( 4 p t s ) Consider a wholesale electricity market with two unregulated power generating firms setting output quantities a

Bonus Problem #2(4pts)
Consider a wholesale electricity market with two unregulated power generating firms setting output
quantities as a Cournot duopoly. The two firms are identical, and each has total cost function Ci(qi)=14qi2.
The market demand function isQ=7,200-2p. Solve for the Cournot equilibrium. Be sure to calculate
the equilibrium quantity produced by each firm, the total market quantity, and the equilibrium price.
Bonus Problem # 2 ( 4 p t s ) Consider a

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