Consider a cournot duopoly with the following inverse demand function: p = 100 − 2q1 − 2q2. the firms' marginal costs are identical and are given by mci = 2. based on this information, consumer surplus in this market is:

Afirm is producing at minimum average total cost with its current plant. draw the firm's long-run average cost curve. label it. draw a point on the lrac curve at which the firm cannot lower its average total cost. draw the firm's short-run average total cost curve that is consistent with the point you have drawn. label it.g