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The inverse demand for a homogenous-product Cournot duopoly is P = 80-2Q where Q=Q 1 + Q 2 . The cost structure for the two

The inverse demand for a homogenous-product Cournot duopoly is P = 80-2Q where Q=Q1 + Q2. The cost structure for the two firms, respectively, are C1(Q1) = 8Q1 and C2(Q2) = 4Q2.

(A) Determine the equilibrium output level for the two firms

(B) Determine the equilibrium market price

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