At a Cournot-Nash equilibrium, industry profits are:

Name: At a Cournot-Nash equilibrium, industry profits are:
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At a Cournot-Nash equilibrium, firms choose quantities to maximize their profits given the quantities chosen by other firms. This results in industry profits that are less than a monopoly, where a single firm maximizes profits over the entire market, but more than in perfect competition, where firms are price takers and earn normal profits in the long run.

At a Cournot-Nash Equilibrium, Industry Profits Are