Question: Please show the process Consider a duopoly being studied by you, a superstar analyst. The two firms you're studying produce differentiated products and you've estimated

Please show the process

Consider a duopoly being studied by you, a superstar analyst. The two firms you're studying produce differentiated products and you've estimated the inverse demand for each firm to be: Firm 1: p1 = 2470 - q1 - 0.592 Firm 2: p2 = 1680 - q2 - 0.5q1 . Public intel suggests that Firm 1 has constant marginal costs of $15 per unit while Firm 2 has constant marginal costs of $30 per unit. Fixed costs are negligble for both firms. Solve for the Nash-Cournot equilibrium quantities. (Enter your responses rounded to two decimal places.) 91 = 1089.33 units. 92 = 552.67 units. After successfully calculating the Nash-Cournot equilibrium, it has occured to you that the Cournot Model is not appropriate for this market because Firm 1 behaves as a Stackelberg leader. Begrudingly, you solve for the equilibrium again, this time finding the quantities for the Nash-Stackelberg equilibrium. (Enter your responses rounded to two decimal places.) q1 = 1167.14 units. 92 = 533.21 units
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