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The (inverse) market demand function in a homogeneous product Cournot duopoly is as follows: P = 500 - 5(Q1+ Q2).The total cost functions are TC

The (inverse) market demand function in a homogeneous product Cournot duopoly is as follows: P = 500 - 5(Q1+ Q2).The total cost functions are TC = 200 + 50Q1for firm one and TC = 200 + 60Q2for firm two.What is the reaction function for firm one?

Group of answer choices

Q1 = 30 - 0.25Q2

Q1 = 60 - 0.5Q2

Q1 = 45 - 0.5Q2

Q1 = 50 - 0.5Q2

Q1 = 15 - 0.75Q2

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