An oligopoly industry has nineteen (19) firms. The inverse demand function for this industry is p= 60 -q. All firms produce at a constant unit cost…

An oligopoly industry has nineteen (19) firms.

The inverse demand function for this industry is p= 60 -q.

All firms produce at a constant unit cost of $20 per unit.

In a Cournot equilibrium, how much will each firm sell?

What is the Cournot equilibrium price for this industry?

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