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Analysts have estimated the inverse market demand in a homogeneous-product Cournot duopoly to be P = 130 2 (Q1 + Q2). They estimate costs to

Analysts have estimated the inverse market demand in a homogeneous-product Cournot duopoly to be P = 130 2 (Q1 + Q2). They estimate costs to be C1(Q1) = 22Q1 and C2(Q2) = 34Q2.

a) Calculate each firm's equilibrium output.

b) Calculate the profit each firm earns in equilibrium.

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