Question: Solve clearly Question 8 (7 points) Suppose that there are two firms producing a homogenous product and competing in Cournot fashion and let the market

Solve clearly

Question 8 (7 points) Suppose that there are two firms producing a homogenous product and competing in Cournot fashion and let the market demand be given by Q = 120 - -. Assume for simplicity that each firm operates with zero total cost. Find each firm's Cournot Nash equilibrium profit for each firm. 2800 2400 3600 O 3200

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