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Suppose Cournot duopolist firms operate with each having a cost of 30qi (i = 1,2) so...

Suppose Cournot duopolist firms operate with each having a cost of 30qi (i = 1,2) so that each firm's marginal cost is 30. The inverse market demand curve is P = 120 - Q where Q = q1 + q2. Suppose there were no barriers to entry and firms continued to enter so long as there were positive economic profits. At the Nash-Cournot equilibrium, the total output, Q, is

Select one:

a. 30.

b. 45.

c. 60.

d. 90.

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