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Suppose there are two firms in a market producing the same homogeneous product. Firm A has a fixed cost of $100 and a variable cost

Suppose there are two firms in a market producing the same homogeneous product. Firm A has a fixed cost of $100 and a variable cost of $10 per unit of output, while firm B has a fixed cost of $60 and a variable cost of $20 per unit of output. The market demand curve is given by P = 100 - Q, where Q is the total quantity of the product produced by both firms and P is the market price.

1. Find the profit-maximizing output level for each firm.

2. Find the equilibrium price and quantity in the market.

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