Question 11 Cournot & StackelbergTwo quantity-setting duopolists face the following market demandP=240-QEach firm has a marginal cost of $30 per unit.1. Find the Cournot Equilibrium quantity for each firm and the Cournotequilibrium price? 2. Now imagine that Firm 1 gets to move first. Find the Stackelberg equilibriumquantities for both firms as well as the Stackelberg equilibrium price.

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Question 11 Cournot & Stackelberg Two quantity-setting duopolists face the following market demand P=240-Q

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2. Now imagine that Firm 1 gets to move first. Find the Stackelberg equilibrium
quantities for both firms as well as the Stackelberg equilibrium price.

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