Question: Nash equilibrium OPEQ simulation: 3 countries, with no diplomatic contacts: we need to understand how maximize profit giving aS input the number of barrels to
Nash equilibrium OPEQ simulation:
3 countries, with no diplomatic contacts: we need to understand how maximize profit giving aS input the number of barrels to be produced each year.
The price is calculated as follows: P= 70 - 0.03Q. Where "Q" stands for the total qty of the 3 countries. What 70 stands for?
How do you calculate the Nash equilibrium?
Thanks
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