Suppose in a Cournot duopoly that two firms, Firm 1 and Firm 2, face market demand $P = 50 - Q$ and both have marginal cost, $M C = \$ 20$ . The equilibrium industry profits in this market will be
A) 150
B) 200
C) 250
D) 300

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The Answer of Suppose in a Cournot duopoly that two firms, Firm 1 and Firm 2, face market demand $P = 50 - Q$ and both have marginal cost, $M C = \$ 20$ . The equilibrium industry profits in this market will be
A) 150
B) 200
C) 250
D) 300

Suppose in a Cournot Duopoly That Two Firms, Firm 1 P=50−QP = 50 - QP=50−Q

Suppose in a Cournot Duopoly That Two Firms, Firm 1 $P = 50 - Q$