Comparing Outcomes Extra Credit Jan 30 T P = A - BQ Q : total quantity . C : marginal Price Quantity cost firm-level profit fc = 0 Monopoly (firm) Atc A-c 2 2B Cournot Duopoly A+2c 2(A-c) 3 3B V perfect Competitive C A-c B Q - Quantity produced under Cournot duopoly is higher than under monopoly, but less than under perfect competition. market price . . Price under Cournot duopoly is lower than under monopoly, but higher than under perfect competition. . Cournot duopoly is not efficient but is less inefficient than monopoly. Review market efficiency. producer surplus , concumer surplus market wolfno dead -weight loss