Question 5 ( 1 point ) Assume there are two existing identical firms in a market in which market demand is given by P ( Q ) = A – 2 * where Q is…

Can someone please help me and explain these answers ?

Question 5 ( 1 point )Assume there are two existing identical firms in a market in which market demand is given byP ( Q ) = A – 2 *where Q is total market output given by Q 1 + Q2 . Assume A = 520 0 . For simplicity , assume thatmarginal cost is constant , that is MC = 40 . Find the Nash equilibrium output for firm 1 if firmssimultaneously decide how much to produce ( Cournot Competition ) . No units , no roundingYour Answer :Your Answe

 
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"