A Cournot Oligopoly Has 19 Firms, and Inverse Market Demand $P = 60 - Q$

question 3

Multiple Choice

A Cournot oligopoly has 19 firms, and inverse market demand $P = 60 - Q$ . All firms have marginal cost, $M C = \$ 20$ . The equilibrium price in this market will be:

• A) \(\$ 20.50\)
• B) \(\$ 22\)
• C) \(\$ 33.33\)
• D) \(\$ 40.15\)

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