Question: QUESTION 1 Two Cournot competitors face inverse demand p = 50 - Q, where Q = q1 + q2 is the total output of firms

QUESTION 1 Two Cournot competitors face inverse demand p = 50 - Q, where Q = q1 + q2 is the total output of firms 1 and 2. Both firms have marginal cost of 2. What are the equilibrium output levels q1 and q2? O 16 and16 O 25 and 25 O 20 and9 O 36 and3 QUESTION 2 With the same inverse demand function p = 50 - Q in a Cournot duopoly, what are the equilibrium output levels q1 and q2 if firm 1's marginal cost is 1, and firm 2's marginal cost is 12? O 16 and16 O 25 and 25 O 20 andg O 36 and3

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