Copy of Cournot Duopoly

A very simple Cournot model has been used to construct this figure. Q - Quantity of production P - Price Π - Profit MONOPOLY: P = 2 - Q (linear demand curve) Cost of production = 1 Π = (1 - Q)*Q DUOPOLY: Π(i) = [1 - (Q(1) + Q(2))]*Q(i) i = 1 or 2

 

Anthony Savagar

 
Resource Type
Activity
Tags
Target Group (Age)
18 – 19+
Language
English
 
 
 
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