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Suppose the Demand for Pizza in a Small Isolated Town

question 49

Essay

Suppose the demand for pizza in a small isolated town is p = 10 - Q.There are only two firms,A and B,and each has a cost function TC = 2 + q.Determine the Cournot equilibrium.


Definitions:

Inconsistent

Describes a condition of being in conflict, having statements or beliefs that cannot all be true at the same time.

Main Connective

The logical element in a combined statement responsible for defining the truth value of the statement as a whole.

Atomic Components

Fundamental parts or elements that cannot be broken down further into simpler constituents within a particular context or framework.

Tautological Consequent

A conclusion in a deductive argument that is true by definition or is logically unavoidable.

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