Question: This is how the question was presented 15) Consider an Oligopoly in which two firms choose quantities. Firms have identical marginal costs. Draw the reaction

This is how the question was presented

15) Consider an Oligopoly in which two firms choose quantities. Firms have identical marginal costs.

Draw the reaction curves and illustrate the equilibrium outputs when firms behave as if in:

a)Cournot

b)Stackelberg

c)Collusion (assuming it is feasible)

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