Economics · Microeconomics
According to Cournot's duopoly model with linear demand and identical constant marginal cost:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The combined output equals the pure monopoly output level
- 2Firms act as price takers in the equilibrium market
- 3If there are n firms, industry output will be n + 1n of market demand
- 4Each firm produces 1/3 of the total market output✓
Correct answer
Each firm produces 1/3 of the total market output
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