Question: The chart below contains the necessary information for a Cournot duopoly with an identical product. You have the market demand, Qd = 60 -

The chart below contains the necessary information for a Cournot duopoly with

The chart below contains the necessary information for a Cournot duopoly with an identical product. You have the market demand, Qd = 60 - 0.5P, so your inverse demand is P = 120-2Qd, and each firm has the same marginal cost; MC MC-30. There are columns available for the market price, producer surplus for each firm and the total producer surplus for the firms together. 1. Complete the table. Use the example in the lecture as a model. 2. What is the competitive outcome for this market? 3. What is the cooperative outcome for this market? 4. Is the cooperative outcome for this market stable? Explain. P PS PS Q 9 10 10 11 11 12 12 13 13 14 14 15 15 16 16 Q 9 9 10 10 11 11 12 12 13 13 14 14 15 15 16 PStot

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