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Question 2: Assume two firms A & I, the two firms' inverse demand functions differ: pA = 197 15.1qA 0.3qI pI = 490 10qI 6qA

Question 2: Assume two firms A & I, the two firms' inverse demand functions differ:

pA = 197 15.1qA 0.3qI

pI = 490 10qI 6qA

where Each firm faces a constant marginal cost of MC = $40 per unit. Solve for the Cournot equilibrium quantities and prices.

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