Consider two firms competing to sell a homogeneous product by setting price.The inverse demand curve is given by P = 6 - Q.If each firms' cost function is C_i(Q_i) = 2Q_i, then consumer surplus in this market is A)$2. B)$4. C)$8. D)there is insufficient information to determine consumer surplus in this market.

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The Answer of Consider two firms competing to sell a homogeneous product by setting price.The inverse demand curve is given by P = 6 - Q.If each firms' cost function is C_i(Q_i) = 2Q_i, then consumer surplus in this market is A)$2. B)$4. C)$8. D)there is insufficient information to determine consumer surplus in this market.

Consider Two Firms Competing to Sell a Homogeneous Product by Setting