Market demand for widgets is p = 160 - 2Q. Whether there is just one firm selling widgets or many firms selling widgets, the marginal cost and average cost is 100. Assume there is one firm selling widgets. What is the equilibrium price (p) and quantity sold (Q)? Options for A) 1) P=60,Q=20 2)P=80,Q=40 3)P=100,Q=80 4)P=120,Q=80 Assume there are two firms selling widgets acting as Cournot duopolists (Firm 1 and Firm 2). What is the quantity sold for each firm? Options for B) 1)Firm 1 sells 10, Firm 2 sells 10 2)Firm 1 sells 25, Firm 2 sells 10 3)Firm 1 sells 25, Firm 2 sells 25 4) Firm 1 sells 7.5 Firm 2 sells 15 From question 11 (Cournot duopolists), what is the price of widgets? Options for C) 1)200 2)175 3)150 4)120