A Cournot Oligopoly Has 19 Firms, and Inverse Market Demand $M C = \$ 20$

question 44

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 output for each firm will be

• A) 1 unit
• B) 2 units
• C) 3 units
• D) 4 units

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