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15. Ultimate Bagel and Hardcore Bagel compete as Cournot Duopolists. Market demand for bagels is given by P = 20 - 4Q where Q is

15. Ultimate Bagel and Hardcore Bagel compete as Cournot Duopolists. Market demand for bagels is given by P = 20 - 4Q where Q is total bagels supplied. Ultimate Bagel's total cost function is C(q) = 2q2 and Hardcore Bagel's total cost function is C(q) = 3q2. What quantity should Ultimate Bagel produce, as a function of their competitor's quantity, qc? (a) q* = 10-29c 7 (b) q* = 10-2qc 5 (c) q* = 20-4qc 11 * 5-9c

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