Question: Consider a Cournot duopoly. The market demand function is P = 83 - 1(q1 + q2), where P is the market price, q1 is the

Consider a Cournot duopoly. The market demand function is P = 83 - 1(q1 + q2), where P is the market price, q1 is the output produced by Firm 1 and q2 is the output produced by Firm 2. The two firms have a constant marginal cost c = 14.

Q1. What quantity does Firm 1 produce ?

Important note: ( Cournot duopoly with market demand function P = a - b(q1 + q2), each firm produces )

Also, the answer to Q1 is 23 but I am not sure how to work it out). Please help me with step to find the answer 23.

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