An industry has two firms.The inverse demand function for this industry is p = 263 - 6q.Both firms produce at a constant unit cost of $29 per unit.What is the Cournot equilibrium price for this industry?
A)$29
B)$31
C)$107
D)$53.50
E)None of the above.

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The Answer of An industry has two firms.The inverse demand function for this industry is p = 263 - 6q.Both firms produce at a constant unit cost of $29 per unit.What is the Cournot equilibrium price for this industry?
A)$29
B)$31
C)$107
D)$53.50
E)None of the above.

An Industry Has Two Firms