If market demand for a duopoly is given by p=30 - 0.5q and equilibrium quantity supplied by each firm is 1/3 times demand, market price is (MC=0) .
If the market demand for a duopoly is given by p=30 - 0.5q and the equilibrium quantity supplied by each firm is one-third the original market demand, what is the equilibrium market price?
If duopoly behaviour is one that is described by Cournot, the market demand curve is given by the equation q = 200 − 4p and both the firms have zero costs, find the quantity supplied by each firm in equilibrium and the equilibrium market price.