A Cournot oligopoly has 19 firms, and inverse market demand P = 60 - Q. All firms have marginal cost, $M C = \$ 20$ . The equilibrium output for each firm will be

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In a Cournot oligopoly, each firm chooses its output level assuming the output of the other firms is fixed. The equilibrium output for each firm is found by setting marginal revenue equal to marginal cost. For firm i, the reaction function is $ q_i = \frac{60 - 20}{20 + 1} = 2 $ units.

A Cournot Oligopoly Has 19 Firms, and Inverse Market Demand MC=$20M C = \$ 20MC=$20

A Cournot Oligopoly Has 19 Firms, and Inverse Market Demand $M C = \$ 20$