Question 2, Text Exercise 3.13 N HW Score: 42.86%, 3 of 7 points @ Part 4 of 6 (

Question 2, Text Exercise 3.13 HW Score: 42.86%, 3 of 7 points O Points: 0.5 of 1 Part 4 of 6 Save A duopoly faces a market demand ofp= 120 -Q. Firm 1 has a constant marginal cost of MC =$20. Firm 2's constant marginal cost is MC2 = $40. Calculate the output of each firm, market output, and price if there is (a) a collusive equilibrium or (b) a Cournot equilibrium. The collusive equilibrium occurs where qi equals 50 and q2 equals 0 . (Enter numeric responses using real numbers rounded to two decimal places) Market output is 50 . The collusive equilibrium price is $ 70 The Cournot-Nash equilibrium occurs where qi equals and q2 equals