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ECON0015_ECON0013_ECON0014_25-26 Quiz 3b
Numerical
Below is the reaction function diagram for an oligopoly. There are two firms each has the marginal cost of 4 and the demand function is P=20-2Q.What is the monopoly output in this industry?
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The question asks for the monopoly output in a market described by the demand P = 20 − 2Q, where Q is the total quantity (Q = Q1 + Q2), and each firm has a marginal cost of 4.
First, treat the industry as a single monopolist facing the overal......Login to view full explanationLog in for full answers
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