Suppose a market is served by two rms (a duopoly). The market demand function given by P = 1200 Q1 Q; Where Q1 is the output produced by rm 1 and Q2 is the output produced by rm 2. Firm 1's cost of production is given by the function C(Q1)= 120Q1 and rm 2's cost of production is given by the function C(Qz) = 120Q2. The average cost of rm 1 is given by AC1 = 120 and the average cost of rm 2 is given by AC2 = 120. A1r1 Marginal prot function for rm 1: E = 1080 2Q1 Q2 1 Marginal prot function for rm 2: 232 = 1080 Q1 ZQZ 2 4. What are the equilibrium output levels of rm 1 and rm 2 in the Cournot model equilibrium? (A) Firm 1 = 320 units, rm 2 = 320 units (B) Firm 1 = 340 units, rm 2 = 340 units (C) Firm 1 = 360 units, rm 2 = 360 units (D) Firm 1 = 380 units, rm 2 = 380 units