Question: Consider a cournot competition environment where demand is given by P = 150 (Q1 + Q2) and each firm has T C = 10Qi A.

Consider a cournot competition environment where demand is given by P = 150 (Q1 + Q2) and each firm has T C = 10Qi A. Find each firm's profit as a function Q1, Q2 B. Optimize and find Q1 as a function of Q2 and Q2 as a function of Q1 C. Find equilibrium Q1and Q2 and profit for both firms.

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