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Solve for the Bertrand equilibrium for the firms described below if Firm 1's marginal cost is $30 per unit and Firm 2's marginal cost is

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Solve for the Bertrand equilibrium for the firms described below if Firm 1's marginal cost is $30 per unit and Firm 2's marginal cost is $10 per unit. Firm 1 faces a demand function of 91 = 140 -2p1 + 1P2: where q, is Firm 1's output, p, is Firm 1's price, and p2 is Firm 2's price. Similarly, the demand Firm 2 faces is 92 = 140-2p2 + 1P1. Solve for the Bertrand equilibrium. In equilibrium, p, equals and p2 equals . (Enter numeric responses using integers.) At these prices, q, equals and q2 equals The total quantity supplied is

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