Two identical firms compete as a Cournot duopoly.The inverse market demand they face is P = 80 − 4Q.The cost function for each firm is C(Q)= 8Q.The price charged in this market will be:
A) $12.
B) $32.
C) $48.
D) $56.

Question

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The Answer of Two identical firms compete as a Cournot duopoly.The inverse market demand they face is P = 80 − 4Q.The cost function for each firm is C(Q)= 8Q.The price charged in this market will be:
A) $12.
B) $32.
C) $48.
D) $56.

Two Identical Firms Compete as a Cournot Duopoly