Question: QUESTION 15 4 points Save Answer The market demand function is Q = 1,000 - 1,000P, and each firm's marginal cost is MC = $0.28

QUESTION 15 4 points Save Answer The market demand function is Q = 1,000 - 1,000P, and each firm's marginal cost is MC = $0.28 per unit of output. From the demand equation, each firm's marginal revenue is MR;=1 - 0.002qi - 0.001qj. The duopoly Nash-Cournot equilibrium is given by q1 = q2 = 240 and price p = $0.52 per unit of output. True or false? True False QUESTION 16 4 points Save Answer . Duopoly quantity-setting firms face the market demand P = 150 - q1 - q2. Each firm has a marginal cost of MC = $60 per unit. The Nash-Cournot equilibrium is q1 = q2 = 40 and p = $70. Is it true or false? True False

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