In a homogeneous products duopoly, each firm has a marginal cost curve = 10 + , = 1, 2.The market demand curve is = 50 ,where = 1+ 2.

1. a)What are the Cournot equilibrium quantities and price in this market?
2. b)What would be the equilibrium price in this market if the two firms acted as a profit- maximizing cartel?
3. c)What would be the equilibrium price in this market if firms acted as price-taking firms?
4. d)What would be the equilibrium quantities and price if firm 1 acted as a leader and firm 2 acted as a follower in Stackelberg model.
5. e)Compare the individual output levels, profits, and equilibrium prices from (a) to (d).