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SOLVED: Calculate the Cournot-Nash equilibrium for each firm, assuming that each chooses the output level that maximizes its profits when taking its rival's output as given. What are the profits of each firm? (Round all quantities and dollar amounts to two decimal places.)When competing, each firm will produce 40 units of output. In turn, each firm will earn a profit of 1600.What would be the equilibrium quantity if Texas Air had constant marginal and average costs of25 and American had constant
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