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Consider a duopoly with two firms with the cost functions: Firm 1: C1(q1)=5q1 Firm 2: C2(q2)=5q2...

Consider a duopoly with two firms with the cost functions:

Firm 1: C1(q1)=5q1

Firm 2: C2(q2)=5q2

The firms compete in a market with inverse demand

p = 300 - 8Q

where Q=q1+q2. The firms compete in a Cournot fashion by choosing output simultaneously.  

What is the Nash-Cournot equilibrium output of firm 1? Round to nearest .1

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