Analysts have estimated the inverse market demand in a homogeneous-product Cournot duopoly to be P = 130 −2 (Q1 + Q2). They estimate costs to be C1(Q1) = 22Q1 and C2(Q2) = 34Q2.   Determine the reaction function for each firm.   Firm 1: Q1 = ___ − ___Q2   Firm 2: Q2 = ___ − ___ Q1   Calculate each firm’s equilibrium output.   Firm 1: ___ Firm 2: ___   Calculate the equilibrium market price. ___   Calculate the profit each firm earns in equilibrium.   Firm 1: $ ___ Firm 2: $ ___

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