Now suppose two firms supply this market instead of one firm. Thus, Q = Q1 + Q2 where Q1 is the output produced by firm 1 and Q2 is the output produced by firm 2. Thus, the market demand function is now

Marginal profit function of firm 1: 1800 - 2Q1 - Q2

Marginal profit function of firm 2: 1800 - Q1 - 2Q2

What are the levels of equilibrium output levels produced by firm 1 and firm 2 in the Cournot model equilibrium?

Group of answer choices

300, 300

450, 450

600, 600

600, 300

What will be the total industry output produced when firms engage in Cournot market competition?

Group of answer choices

600

900

750

1200

What will be the equilibrium market price in the Cournot model?

Group of answer choices

$1000

$800

$600

$200