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Two Cournot duopolists compete in a market with inverse demand given by p = 98.00 - 20, where p is the per-unit price, q, is

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Two Cournot duopolists compete in a market with inverse demand given by p = 98.00 - 20, where p is the per-unit price, q, is the output for firm i (either firm 1 or firm 2), and Q = q1 + q2. Firm 1 has a constant marginal cost of $5 per unit, and firm 2 has a constant marginal cost of $2 per unit. Assume no fixed costs. What is the optimal output for firm 1? x 15.5 (Round to two decimals if necessary.) What is the optimal output for firm 2? x 15.5 (Round to two decimals if necessary.) Part 2 (1 point) Feedback See Hint What is the equilibrium price in this market? * $ 36 (Round to two decimals if necessary.) Part 3 (2 points) Feedback See Hint What is the profit for each firm? Firm 1 profit: * $ (Round to two decimals if necessary.) Firm 2 profit: * $ 480.5 (Round to two decimals if necessary.)

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