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Answer the following question(s) based on this information: Two firms in a Cournot duopoly produce quantities...

Answer the following question(s) based on this information: Two firms in a Cournot duopoly produce quantities Q 1 and Q 2 and the demand equation is given as P = 80 - 2Q 1 - 2Q 2. The firms' marginal cost are identical and given by MCi(Qi) = 4Qi, where i is either firm 1 or firm 2. Based on this information firm 1 and 2's respective optimal Cournot quantity will be: a. Q1 = 40 and Q2 = 40 b. Q1 = 8 and Q2 = 8 c. Q1 = 16 and Q2 = 16 d. Q1 = 10 and Q2 = 10

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