Question #70759

Consider a market with two dominant firms (curnot duopoly) producing a homogenous product.
The inverse market demand function is given by

Expert's answer

According to the Cournot duopoly, the inverse market demand function is given by

P=a-b*(Q1+Q2),

Q1 – quantity of production of the first firm, Q2 – quantity of production of the second firm.

P=a-b*(Q1+Q2),

Q1 – quantity of production of the first firm, Q2 – quantity of production of the second firm.

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