Question 1

Duopoly firms face the market demand p = 150 - Q. Each firm has a marginal cost of $60 per unit (zero fixed cost).

(a) What is the Bertrand equilibrium?

(b) If the firms form a Cartel, what will be the outcome?

(c) What is the Cournot equilibrium?

Question 2

Duopoly quantity-setting firms face the market demand p = 200 - 5Q. Each firm has a marginal cost of $20 per unit.

(a) What is the Cournot equilibrium?

(b) What is the Stackelberg equilibrium when Firm 1 moves first?

Please help me with these questions!!! I'd really appreciate it.