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A duopoly faces a market demand of p=150Q. Firm 1 has a constant marginal cost of MC1=$20. Firm 2's constant marginal cost is MC2=$40. Calculate

A duopoly faces a market demand of p=150Q. Firm 1 has a constant marginal cost of MC1=$20. Firm 2's constant marginal cost is MC2=$40. Calculate the output of each firm, market output, and price if there is (a) a collusive equilibrium or (b) a Cournot equilibrium.

The collusive equilibrium occurs where q1 equals ______ and q2 equals _______.

(Enter numeric responses using real numbers rounded to two decimal places)

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