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Question 3. Carl and Simon are two rival pumpkin growers who sell their pumpkins at the Farmers' Market at SFSU every Thursday morning. They are

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Question 3. Carl and Simon are two rival pumpkin growers who sell their pumpkins at the Farmers' Market at SFSU every Thursday morning. They are the only sellers of pumpkins at the market, where the demand function for pumpkins is q=qc+qs=3200-1600p, where qc is the number that Carl sells and qs is the number that Simon sells. The cost of producing pumpkins for either farmer is $0.50 per pumpkin no matter how many pumpkins he produces (there is no fixed cost). Suppose the Carl and Simon are engaged in Cournot competition. How many quantities will each producer produce? What is the market price in this scenario? (12 points)

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