b) Also Find Firm 2's best response function

c) Then solve for the Cournot Quantities

D)Do we expect the firm profit in the Cournot equilibrium to be smaller or larger than firm profit in a monopoly equilibrium? Briefly explain.

Consider a duopoly engaged in Cournot competition, facing the demand function Q" = 50 - P (Qd = 50 -P). Firm 1 has a cost function c1 (q1) = 10q, + 2q1 and firm 2 has a cost function of c2 (q2 ) = 1892 + 4. a) Solve for firm 1's best response function. Edit View Insert Format Tools Table 12pt " Paragraph B I U A & TV