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economics question this is all the information provided 1. Suppose there is a market with two competing firms. The inverse market demand is p(y) =

economics question
this is all the information provided
1. Suppose there is a market with two competing firms. The inverse market demand is p(y) = 160 - 2y Firm costs are - Firm 1: ci(yi) = 10y1 Firm 2: ci(yz) = 10y: What is the quantity produced by firm 1 if it is a quantity leader in a Stackelberg setting (sequential quantity setting)? What is the quantity produced by firm 1 if it is in a Cournot setting where both firms chose quantity simultaneously? (30 points)

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