The inverse market demand in a homogeneous-product Cournot duopoly is P = 100 – 2(Q1 + Q2) and costs are C1(Q1) = 20Q1 and C2(Q2) = 30Q2. a. What is the reaction function for each firm?                                                              b. What is each firm’s equilibrium output? c. What is the equilibrium market price?                                                                               d. What is the profit each firm earns in equilibrium?

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