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In a duopolistic market, the market demand function is qd = 150 -p but cost is nil. under the equilibrium price and output for each firm shall be
In a duopolistic market, the market demand function is QD = 150 -P but cost is nil. Under the equilibrium price and output for each firm shall be
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Reshma gupta![best-answer]()
this is a question of cournot,s duopoly model. Cournot’s model speculates that in a duopoly, each company receives price values on goods and services based on the quantity or availability of the goods and services. The two companies maintain a reactionary relationship in regard to market prices, where each company changes and makes adjustments to their respective production, ending when an equilibrium is reached in the form of equal halves of the market for each firm. so each firm will go for equal price and output at equlibrium.