Please help with (a) (b) and (c_

l. Duopoly quantity-setting rms face the market demand: P = 30062 where Q = Q1 + Q2. Each rm has a marginal cost of $30 per unit and zero xed costs. (a) What are the quantities chosen by each rm in the Cournot equilibrium? What is the market price? (b) What are the quantities chosen by each rm in the Stackelberg equilibrium, when Firm 1 moves rst? What is the market price? How does this market price compare to the market price under Cournot ? (c) What are the prots of rms 1 and 2 under Cournot vs. Stackelberg equilibrium? Is rm 1 better off under Cournot or Stackelberg competition? What about rm 2? In which equilibrium are consumers better off (hint: compare the size of consumer surplus, given the equilibrium price and quantity under Cournot vs. Stackelberg